# Fed officials divided in July over need for more rate hikes, minutes show | Reuters

> Minutes from the July Federal Open Market Committee meeting showed policymakers remained committed to bringing inflation down to 2%. Most participants saw significant upside risks to inflation that could require further tightening. The committee had unanimously raised rates to 5.25%-5.50% at that meeting.

- Date: 2023-08-16 · published 2023-08-16T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34479-fed-officials-divided-in-july-over-need-for-more-rate-hikes-minutes-show-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A hawkish Fed signals firmer US rates and a stronger dollar, which pressures dollar-priced grain and meal exports and can weigh on commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-02 | [Dollar jumps vs yen as Fed officials hint more rate hikes coming \| Reuters](https://feedsoft.ai/events/40270-dollar-jumps-vs-yen-as-fed-officials-hint-more-rate-hikes-coming-reuters.md) | +0.4% | +1.7% |
| DXY | 2017-02-22 | [Many Fed Officials See Rate Hike ‘Fairly Soon,’ Minutes Show - Bloomberg](https://feedsoft.ai/events/72388-many-fed-officials-see-rate-hike-fairly-soon-minutes-show-bloomberg.md) | -0.5% | -1.5% |
| DXY | 2018-08-22 | [Fed's minutes pave way for two more rate hikes in 2018](https://feedsoft.ai/events/63698-fed-s-minutes-pave-way-for-two-more-rate-hikes-in-2018.md) | -0.5% | -0.2% |
| DXY | 2018-06-13 | [Dollar mostly firmer as Fed sees more U.S. rate hikes \| Reuters](https://feedsoft.ai/events/64708-dollar-mostly-firmer-as-fed-sees-more-u-s-rate-hikes-reuters.md) | +1.3% | +0.6% |
| DXY | 2023-06-14 | [US dollar falls, but off four-week lows, as Fed signals more rate hikes \| Reuters](https://feedsoft.ai/events/35412-us-dollar-falls-but-off-four-week-lows-as-fed-signals-more-rate-hikes-reuters.md) | -0.4% | -1.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/us/fed-policymakers-divided-july-over-need-more-rate-hikes-minutes-show-2023-08-16/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.