Free Trial

MNI: Several Fed Officials Saw ‘Plausible’ Cut At July Meet 

FOMC officials increasingly worried about weakening job market.

Several Federal Reserve policymakers were ready to cut interest rates as early as the central bank's last meeting in July as they focused increasingly on risks to the employment side of the mandate, minutes to the FOMC's July meeting showed Wednesday. 

“All participants supported maintaining the target range for the federal funds rate at 5.25 to 5.5%, although several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have supported such a decision,” the minutes said.

Keep reading...Show less
367 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Several Federal Reserve policymakers were ready to cut interest rates as early as the central bank's last meeting in July as they focused increasingly on risks to the employment side of the mandate, minutes to the FOMC's July meeting showed Wednesday. 

“All participants supported maintaining the target range for the federal funds rate at 5.25 to 5.5%, although several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have supported such a decision,” the minutes said.

Keep reading...Show less