Federal Reserve officials widely concluded that they had attained their inflation goal while still needing progress on their employment mandate, the record of their July meeting showed.
“Most participants judged that the Committee’s standard of ‘substantial further progress’ toward the maximum-employment goal had not yet been met,” the minutes said. “At the same time, most participants remarked that this standard had been achieved with respect to the price stability goal.”
“Most participants judged that the Committee’s standard of ‘substantial further progress’ toward the maximum-employment goal had not yet been met,” the minutes said. “At the same time, most participants remarked that this standard had been achieved with respect to the price stability goal.”