Federal Reserve keeps interest rates steady at 3.6 percent

The US Federal Reserve released its latest meeting minutes on Wednesday. The notes showed that officials disagree about where inflation is heading. The Fed kept its key interest rate unchanged at 3.6%.

The 19-member committee was divided. Some officials think inflation will stay high. Others believe it will fall. Several members pointed to strong demand for AI technology and higher electricity costs as reasons for concern.

Inflation hit 4.2% in May, its highest level in three years. This followed a period of global tensions. Consumers now expect prices to rise by 3.7% over the next year, though longer-term expectations remain close to the Fed's 2% target.