FOMC Minutes from the June 12-13 meeting showed.>

FED: FOMC Minutes from the June 12-13 meeting showed that almost all 

participants wanted a rate increase, but one participant would have 

preferred to postpone to allow inflation expectations to rise to levels 

consistent with the Fed's objective.

- Looking ahead, a number of participants noted it may soon be 

appropriate to modify the language that policy "remains accommodative." 

This follows the decision to remove the other forward guidance in June.

- Most participants noted "uncertainty and risks associated with trade 

policy had intensified" and suggested that could eventually negatively 

impact business sentiment and investment, pointing out that contacts in 

some districts had scaled back capital spending plans as a result.

- On the yield curve, some participants noted outside factors may temper 

the reliability of the flatter curve to precede recession, but several 

others suggested that those factors may not be distorting the curve. A 

number felt it was important to monitor the shape of the curve.

- The minutes suggested that participants saw fiscal policy as a 

positive for growth "over the next few years," with a few seeing fiscal 

policy as an "upside risk." A few others worried that fiscal policy "is 

not currently on a sustainable path."