Fed Minutes Show Fed Officials Divided On Likely Path of Rates

Fed officials were divided last month when it came to the direction of rates this year, minutes from the Fed’s June meeting indicated.

The Fed left interest rates on hold at that meeting, unanimously approving a shortened statement that kept the Federal Reserve’s benchmark interest rate target in a range of 3.50 to 3.75 percent. The meeting of the Federal Open Market Committee was the first chaired by Kevin Warsh.

But officials did not agree about the direction of rates later this year, with what appear to be closely divided numbers of officials expecting that they would cut rates and officials expecting that they would raise rates.

“Regarding…

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