US FOMC July Minutes: Rate Cut in September, Inflation Slowdown to Continue
CryptoNewsTerminal Staff22 Aug, 2024
US FOMC July Minutes: Rate Cut in September, Inflation Slowdown to Continue
The minutes of the Federal Open Market Committee (FOMC) July 2024 meeting, released by the U.S. Federal Reserve, revealed that a majority of FOMC members favored a key rate cut in September. They believed that inflation risks had subsided and anticipated continued inflation decline, but many emphasized the need for further evidence before easing policy. Despite all officials endorsing the decision to maintain rates in July, several expressed concern that delaying or inadequately easing monetary policy could result in an excessive weakening of the job market.
