Brace for Hikes
On Monday’s edition of the Breitbart Business Digest, we flagged that signs of a housing recovery could be a green light for the Federal Reserve to resume raising interest rates. An even clearer sign that the Fed could hike again emerged in the minutes from the Fed’s June meeting, which were released today. Even though rate hikes have paused for now, most Fed officials believe more tightening is coming.
Though the voting members of the Federal Open Market Committee agreed to keep the range steady between 5 percent and 5.25 percent, the minutes revealed that several nonvoting officials were prepared to raise rates in June, and nearly everyone is prepared to raise them more this year.
The buzzwords of the day were “resilient” and “resilience,” which appear throughout minutes. This comforting upbeat verbiage might serve to make Americans feel a…