Fed Minutes: Despite Encouraging July CPI, Inflation Remains Far Too High

It’s not time for a victory lap just yet, even after markets have rallied substantially since their June lows, and an encouraging July CPI print pushed them higher.

This week, the Fed released the minutes from its most recent policy meeting in late July. Fed officials, according to the minutes, think inflation remains too high, and are committed to raising rates. They’re almost certain to raise rates again when they meet next month.

Fed officials also saw trouble coming in housing. Th...

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