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Story summary
- The Federal Reserve’s monetary policy committee voted 9-3 to keep interest rates steady at its July meeting.
- The consumer price index fell to an annual 3.4% in July, down from 3.5% in June.
- Fed Chair Kevin Warsh has reduced communication about internal discussions, making the July minutes especially important.
- Wells Fargo economists say members appear patient now but would raise rates if inflation does not slow further.
