Mumbai, Aug. 21 -- The minutes of the Federal Reserve's latest monetary policy meeting revealed most officials still see the upside risk to inflation as the bigger threat to the economic outlook, although a couple were more worried about the downside risk to employment.
While the Fed announced its widely expected decision to leave interest rates following the July 29-30 meeting, Governors Christopher Waller and Michelle Bowman preferred to lower rates by 25 basis points.
The minutes, released Wednesday afternoon, revealed Waller and Bowman judged inflation was running close to the Fed's 2 percent objective excluding tariff effects and that higher tariffs were unlikely to have persistent effects on inflation.
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