Fed likely to cut rates in September – FOMC minutes
Participants at July meeting said they would need greater confidence inflation was falling
An overwhelming majority of US Federal Open Market Committee (FOMC) members believe a rates cut is likely in September, minutes from the committee’s July meeting reveal.
The minutes, published on August 21, said participants viewed the incoming data as enhancing their confidence that inflation was moving towards the FOMC’s objectives.
However, almost all participants noted they would need to see data that would give them greater confidence that inflation was on a downward path.
“Many participants
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