Inflation risk 'concern over jobs'

A MAJORITY of Federal Reserve officials found that risks surrounding US inflation outweighed those to employment, minutes of a recent policy meeting showed - underscoring a central bank divide over the effects of President Donald Trump's tariffs.

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Attendees of the late July meeting saw challenges to both sides of the Fed’s dual mandate of maintaining stable prices and maximum employment, as they mulled the right time for changes to interest rates, according to the minutes released this week.

But “a majority of participants judged the upside risk to inflation as the greater of these two,” the report added.

Only “a couple of participants considered downside risk to employment the more salient” one.