1415 ET - Almost all officials at the Federal Reserve's June meeting said it was appropriate to hold short-term interest rates steady last month but keep raising them in 2023. "Most of these participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress toward the committee's goals of maximum employment and price stability," according to the minutes of the Fed's June 13-14 gathering. Some officials wanted to raise the fed-funds rates by a quarter-point in June, due to the tight labor market, stronger-than-anticipated economic momentum, and few clear signs of easing inflation. Still, most officials said additional information would be valuable. (harriet.torry@wsj.com; @HarrietTorry)
(END) Dow Jones Newswires
July 05, 2023 14:15 ET (18:15 GMT)
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