Washington, July 6 (AFP/APP): US central bankers last month flagged the concern that sky-high inflation could become persistent and reiterated their willingness to continue raising interest rates to tamp down price pressures, according to the minutes of the latest policy meeting released Wednesday.
Officials were concerned “that inflation pressures had yet to show signs of abating,” which meant rising prices could be “more persistent than they had previously anticipated,” the minutes said.
Many policymakers said there was “a significant risk… that elevated inflation could become entrenched if the public began to question the resolve of the Committee” to take action.
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