Fed Minutes: Officials See a Longer Path to Rate Cuts
A screen displays a news conference with Federal Reserve Chairman Jerome Powell as traders work on the floor at the New York Stock Exchange in New York, May 1, 2024. (Seth Wenig/AP)
After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high. [Full Story]
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