Federal Reserve officials in their July discussions appeared to move closer to their first interest rate hike in nearly a decade but expressed wide-ranging concerns about wages, inflation and a significant slowdown in China.
Federal Reserve Chair Janet Yellen said Friday she expects to begin raising interest rates later this year -- if the job market improves and the Fed is confident inflation will climb closer toward its target rate.
Federal Reserve policymakers largely agreed when they met last month that June would be too early to start raising interest rates, as they debated whether the economy's winter weakness would fade or persist.
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