The US Federal Reserve has released the minutes of its July policy meeting. It shows that board members are divided over which risks pose a greater threat to the economy.



The central bank decided at the meeting to keep its benchmark interest rate steady for the fifth straight time. Fed Chair Jerome Powell emphasized that he and his colleagues are closely studying the data. However, two of the Fed governors voted to cut the rate.



The minutes released on Wednesday show officials worried about both inflation and the labor market. Uncertainty around the effect of President Donald Trump's tariffs led a majority to judge inflation as the greater risk. A couple of others considered the threat to employment as more important.



Trump has been putting pressure on Powell to lower rates. He repeated those comments during a visit to the Fed's headquarters in July ahead of the policy meeting.



Trump took to social media on Wednesday to call on another member of the board, Lisa Cook, to resign. Cook was appointed in 2022 under the administration of former President Joe Biden.



Trump cited a Bloomberg report that says the director of the Federal Housing Finance Agency, Bill Pulte, is calling for an investigation into her mortgages. Pulte claims that she falsified documents and property records to acquire more favorable loans.
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Quiz 1:
According to the article, what was the decision made by the US Federal Reserve at its July policy meeting?
A. Raise interest rates
B. Lower interest rates
C. Keep interest rates steady
D. Increase tariffs

Answers: Quiz 1: C

Quiz 2:
Who among the following did not vote for keeping the interest rate steady at the US Federal Reserve's July policy meeting?
A. Jerome Powell, Fed Chair
B. Two of the Fed governors
C. Donald Trump
D. Bill Pulte, director of the Federal Housing Finance Agency

Answers: Quiz 2: B

Quiz 3:
Why did Trump call on Lisa Cook to resign?
A. For falsifying documents and property records related to her mortgages
B. For supporting Jerome Powell's decisions as Fed Chair
C. For not agreeing with his views on the economy
D. For leaking sensitive information from the Federal Reserve meetings

Answers: Quiz 3: A