WASHINGTON (AP) — Some Federal Reserve officials think the U.S. economy is improving fast enough that the Fed will need to act sooner than previously thought to slow the extraordinary support it’s been providing through ultra-low interest rates.
Minutes of the Fed’s discussion at its July 29-30 meeting released Wednesday show that some officials thought the Fed would need “to call for a relatively prompt move” to reduce the stimulus it has supplied since the financial crisis erupted in 2008. Otherwise, these officials felt the Fed risked overshooting its targets for unemployment and inflation.
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