WASHINGTON (AP) — The Federal Reserve kept its key rate unchanged Wednesday yet almost half the central bank's policymakers said they could support a rate hike later this year.
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The unexpectedly aggressive tilt toward higher rates would disappoint President Trump and suggests heightened concerns about persistent inflation among Fed officials.
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In an unusually short statement after their two-day meeting, the officials dropped language that had suggested their next move would be to cut the key rate. The brief statement reflects the influence of new chair Kevin Warsh, appointed by Trump, who has previously criticized the Fed for commenting too broadly on the economy.
