Almost all participants at Fed's July 29–30 meeting viewed it as appropriate to maintain the benchmark interest rate in 4.25%–4.50% range
Participants assessed impact of tariffs had become more apparent in goods prices, but overall effects on economy, inflation remained to be seen
Several participants said the current target range for the federal funds rate may not be far above its neutral level
Fed staff’s real GDP projection for 2025 through 2027 was similar to the one prepared for the June meeting
Participants noted that the policy committee was close to finalizing changes to the consensus statement as part of framework review
Participants said consensus statement would be designed to be robust across a wide range of economic conditions
Fed dissenters appeared alone in favoring rate cut at July meeting, minutes show
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