Fed members disunited

The report of the previous Fed meeting on monetary policy shows a serious disunity amongst the members of the Monetary Policy Committee about the rise in interest rates.
Details of the summit, on which FED voted to raise interest rates indicated that several members of the committee asked the balance of reserve bonds to start declining by the end of August. Others, however, have said that this is more appropriate to be done later this year.
And while most of the FOMC members believe that the observed slowdown in price increase is a temporary phenomenon and a consequence of seasonal and casual factors, some have expressed concern if this is not the beginning of a new trend.
Fed members also seem to be worried why the recent rise in interest rates has not led to a contraction in money supply, and why financial markets have continued to grow.