Most members of the Federal Reserve were concerned at their last meeting about "significant upside risks" to inflation and suggested more rate hikes could be needed even as some urged caution, according to meeting minutes released by the central bank Wednesday.
"Almost all" argued for a rate hike in July, while "a couple" of participants indicated they favored leaving rates unchanged.
A similar division within the Fed has surfaced in public comments since the July meeting, when the Federal Open Market Committee raised rates by a quarter percentage point to a range of 5.25% to 5.50%.
Read more: What the Fed rate hike means for bank accounts, CDs, loans, and credit cards
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