Fed minutes show some weighed June rate hike

Federal Reserve minutes released Wednesday showed that a few US central bank officials saw a case for raising interest rates at their June policy meeting because of elevated inflation linked to fallout from the Middle East war.

“A few participants commented that, in light of these developments, there was a case for raising the target range for the federal funds rate,” the minutes said.

Fed officials unanimously voted to keep interest rates unchanged at the June 16-17 meeting.