Members of the US Federal Reserve’s rate-setting committee said last month that the bank’s employment and inflation goals were moving into “better balance,” with some calling for “patience” on interest rate cuts, according to minutes of the meeting published Wednesday.
The US central bank has held interest rates at a two-decade high for almost a year as it looks to bring inflation down to its long-term two percent target without doing too much damage to either the labor market or the broader economy.
