Inflation and Deflation

Fed minutes: Officials split widely on rate hike timing

Federal Reserve officials disagreed widely last month on when they might begin lifting interest rates from record lows.

Minutes of the March 17-18 meeting released Wednesday reveal that several policymakers predicted a rate hike in June, while others concerned about low inflation didn't think a rate hike would be warranted until later this year. Still others said the economy wouldn't be strong enough for an increase until 2016.

The Fed's benchmark interest rate has been near zero since December 2008.

In the statement the Fed issued after its meeting, it signaled it was moving closer to a rate increase by dropping language it had been using since December that it...

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