If the AI boom, the war in the Middle East and Donald Trump’s tariffs continue to fuel inflation, “almost all” members of the Federal Reserve Board’s rate-setting committee believe US interest rates will have to rise.

It is increasingly likely that the Fed will raise rates, even though Trump was pushing someone at the Fed who would go in and cut.

There have been few instances over the past 35 years or so when the Fed has only made one rate move, be it up or down.

The Federal Reserve on Wednesday released minutes from its June 16-17 meeting.

A Federal Reserve rate-setting committee agreed to keep its key rate unchanged at its meeting last month, though most officials were split over whether inflation is likely to stay…

If the AI boom, the war in the Middle East and Donald Trump’s tariffs continue to fuel inflation, “almost all” members of the Federal Reserve Board’s rate-setting committee…

During its June meeting, the Federal Reserve decided to keep interest rates unchanged. Committee members expressed concerns about rising inflation and ongoing supply chain…