The daily business briefing: July 7, 2016

Fed leaders cool on rate hikes over Brexit fears, an ex-Fox News anchor accuses Roger Ailes of sexual harassment, and more

Roger Ailes at a panel discussion
(Image credit: REUTERS/Fred Prouser/File Photo)

1. Fed leaders favor halting interest rate hikes until Brexit turmoil clears

Federal Reserve policy makers indicated in their June meeting that they favored putting their plan to raise interest rates on hold until the impact of Britain's vote on its membership in the European Union became clear, according to minutes released Wednesday. The Federal Open Market Committee meeting took place just over a week before the U.K. voted to leave the EU. Fears over the Brexit fallout have intensified since the vote, as the British pound hit a 31-year low. U.S. stocks got a boost from the Fed news.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.