Express

Fed Minutes: Majority of Officials See September Rate Cut as Appropriate

Scott Liu

Summary: The latest Federal Reserve meeting minutes reveal that many officials believe current interest rates are at restrictive levels, and they have downgraded their economic growth expectations for the second half of 2024, largely due to a weaker-than-expected labor market. The minutes noted "further progress" toward the Fed's 2% inflation target, but officials remain cautious about ...

The latest Federal Reserve meeting minutes reveal that many officials believe current interest rates are at restrictive levels, and they have downgraded their economic growth expectations for the second half of 2024, largely due to a weaker-than-expected labor market. The minutes noted "further progress" toward the Fed's 2% inflation target, but officials remain cautious about inflation risks and warn that easing policy too late or too little could excessively harm economic activity and employment.

Nearly all participants expressed a desire to see more inflation data before making any decisions on rate cuts. Some officials, however, indicated that recent inflation progress and rising unemployment provided a reasonable basis for a 25-basis-point rate cut during the July meeting.

Last Update:

Tags: ,,
Link: Fed Minutes: Majority of Officials See September Rate Cut as Appropriate   [Copy]
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 2 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 11 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 15 days ago
  • You need to login to comment.