Most Federal Reserve members are not ready to raise interest rates, according to the minutes of the June Federal Reserve meeting.
They are waiting for more data to confirm "economic growth was sufficiently strong and labor market conditions had firmed enough to return inflation to the Committee's longer-run objective over the medium term" according to the minutes.
There was only one member of the Federal Open Market Committee wanting to hike rates in June, but even that policy maker was willing to remain patient for another meeting or two.
All told, the Fed seemed cautious about the prospects for robust economic growth this year.
Members were particularly concerned "that a failure of Greece and its official creditors to resolve their differences could result in disruptions in financial markets in the euro area, with possible spillover effects on the United States," the minutes said.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.