The Federal Reserve on Wednesday released minutes from its July 30-31 policy meeting.
Federal Reserve officials at their July meeting moved closer to a long-awaited interest rate reduction, stopping short while indicating that a September cut had grown increasingly probable, minutes released Wednesday showed.
One basis point is 0.01 percentage point, so a 25 basis point reduction would be equivalent to a quarter percentage point. "With regard to the outlook for inflation, participants judged that recent data had increased their confidence that inflation was moving sustainably toward 2 percent," the minute stated."Almost all participants observed that the factors that had contributed to recent disinflation would likely continue to put downward pressure on inflation in coming months.
Markets rose the day of the Fed meeting but cratered after on worries that the central bank was moving too slowly in easing monetary policy.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed minutes point to ‘likely’ rate cut coming in SeptemberThe Federal Reserve on Wednesday released minutes from its July 30-31 policy meeting.
Read more »
Fed 'likely' to cut rates before regular September meeting: JefferiesFed 'likely' to cut rates before regular September meeting: Jefferies
Read more »
June JOLTS report likely to boost Fed confidence to deliver September cutJune JOLTS report likely to boost Fed confidence to deliver September cut
Read more »
Goldman Sachs: Fed to indicate September rate cut 'more likely'Goldman Sachs: Fed to indicate September rate cut 'more likely'
Read more »
'Vast majority' of Fed members see September rate cut on more inflation progress'Vast majority' of Fed members see September rate cut on more inflation progress
Read more »
Where is the US Dollar heading after the Fed paved the way for a September cut?Financial markets have been extremely volatile in the last couple of weeks, as all of a sudden, investors realized central bank officials still have the ability to surprise them.
Read more »