Fed Held Rates Steady, But Officials Split on What Comes Next

The Federal Reserve kept interest rates unchanged last week, though officials disagreed on whether to raise them later this year. The Fed releases detailed minutes July 7 showing which officials worry most about inflation and what data they're watching. Small shifts in language—"a couple" versus "several"—can move stock and bond prices as traders recalculate the odds of a rate hike by year's end.