Fed Timing Hazy: The FOMC July meeting minutes showed that the central bank’s policy makers were still undecided on whether the US economy has a solid enough base to begin the normalisation of interest rates. The main points to come out of the minutes were that the labour market is near or at least very close to where it needs to be in order to lift rates, but it is the inflation outlook that is creating all the doubt. Adding to the inflationary pressures that lower commodity prices are
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