Fed Minutes Cite ‘Uncertainty’ on Future Rate Hikes

ederal Reserve officials saw “significant uncertainty” in June over future interest-rate decisions and expressed concern about higher inflation while expecting it to decline, according to minutes of the Fed’s June 28-29 meeting that were released Thursday, Bloomberg reported.

“Many members noted that significant uncertainty accompanied the appropriate setting of policy going forward, and one indicated that the decision to raise the target federal funds rate at this meeting was a close call,”' the Fed minutes said.

Fed Chairman Ben Bernanke told Congress this week that there may be a pause in the Fed’s interest rate hikes, the last of which was made at the June meeting to a 5.25% — the 17th straight quarter-point boost going back to June 2004, Bloomberg reported.