FOMC Minutes: Policymakers saw recent increase in import prices as consistent with inflation trend in medium term

The minutes from the June (13rd & 14th) Federal Reserve’s monetary policy meeting have been published, highlighting that several policymakers saw recent increase in import prices as consistent with inflation trend in medium term.

Key headlines (via Reuters):      

• Several Fed policymakers were concerned inflation softness might persist due to limited pass-through from resource utilization  
• Almost all support June hike
• Most blamed soft prices on 'idiosyncratic factors'