Federal Reserve policymakers are primed to resume raising interest rates this month and remain open to a further increase later in the year.
While officials were encouraged by a step-down in price pressures last month, they’re not inclined to pronounce an end to their battle to rein in inflation that has repeatedly surprised them with its persistence. Contributing to their caution: A keen desire to avoid repeating the mistake of the 1970s, when the Fed prematurely let up on its efforts to contain inflation, only to see price increases reaccelerate to double-digit levels later.
Read More : Fed Remains Open to Further Rate Hike Following Anticipated Increase This Month