The U.S. Federal Reserve is planning to raise rates next month,... despite President Trump's continued calls to hold the rates steady.
They also expressed concerns over trade following Trump's import tariffs.
Kim Hyo-sun tells us more.
The U.S. central bank has signaled a possible interest rate hike in September.
According to the minutes of the Federal Open Market Committee made public on Wednesday,... Fed officials discussed raising interest rates soon once future data supports the current economic outlook.
While the Fed held rates steady during their previous policy meeting held through July 31st to August 1st,... its officials stressed that the U.S. economy is growing at a fast enough rate to put upward pressure on inflation.
Saying they would soon remove accommodative monetary policies soon,... Fed officials explained that the nation's inflation has recently come close to the central bank's target of two percent.
This shows the Fed will continue to keep its stance despite recent criticism by President Trump.
He has said repeatedly during interviews that he's (quote) "not thrilled" with the Fed's stance.
Meanwhile,... the Fed also pointed out the risks the U.S. economy faces from simmering trade tensions,... resulting from the Trump administration's tariff policies.
Kim Hyo-sun, Arirang News.