Federal Reserve System: FOMC Says Rate Hike 'Approaching,' But Inflation Conditions Not Yet Met

The U.S. Federal Reserve may wait until after September to lift interest rates after the latest minutes from the central bank's July meeting indicated conditions for the first rates increase in about a decade had not been met, due primarily to muted inflation that has not yet moved toward the Fed's target. The Fed minutes were released on Bloomberg terminals about a half-hour early, after a news organization broke the embargo, set for 2 p.m. EDT. The central bank then released the minutes on its...