![]() ![]() Investors have increased bets that the widely anticipated quarter-percentage-point increase at the Fed’s July 25-26 meeting will be the central bank’s last in this credit tightening cycle. “It’s really too early to say that we’ve declared victory on inflation,” Federal Reserve Bank of San Francisco President Mary Daly told CNBC on July 13. ![]() 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. 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. (Bloomberg) - Federal Reserve policymakers are primed to resume raising interest rates this month and remain open to a further increase later in the year.
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