Housing Wire: FOMC minutes reveal Fed not concerned by growing global economic disruptions

Posted on by Phil Querin

Expects to continue raising rates in near future

July 5, 2018  Kelsey Ramírez

The Federal Open Market Committee released the minutes from its June meeting Thursday, where the committee elected to raise interest rates for the second time in 2018.

The minutes showed the Federal Reserve is not concerned about the rising threat of a trade war or other economic disruptions.

Many economists are predicting disruptions to not only the U.S. economy but also to the world, predicting gross domestic product could drop by 0.1 percentage points in the U.S. and 0.4 percentage points worldwide due to President Donald Trump’s trade war.

And while the Federal Reserve did mention some global economic challenges during its meeting, they were not the focus and did not seem to affect members’ predictions for the future of rate hikes. [MORE: Go to link here.]

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