Fed minutes reaffirm focus on keeping prices stable

Nearly all Federal Reserve officials at the July policy meeting supported keeping language that commits the central bank to price stability, minutes released Wednesday showed.

Many participants said price increases over the past year had spread across goods and services. Some said underlying inflation remained elevated even after excluding energy and tariff effects. The committee did not decide whether to change the number of annual policy meetings; Chair Kevin Warsh said this year's schedule would remain unchanged.

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