FOMC Minutes: "Could be greater scope for economic growth without putting undue pressure on labor markets"

Different views: Some FOMC members think that waiting might lead to later larger rate increases - and a recession. Other think "there could be greater scope for economic growth without putting undue pressure on labor markets". Most of the key FOMC members are in the second group. From the Fed: Minutes of the Federal Open Market Committee, September 20-21, 2016 . Excerpts: In their discussion of the outlook, participants considered the likelihood of, and the potential benefits and costs associated with, a more pronounced undershooting of the longer-run normal rate of unemployment than......(read more)

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