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Fed minutes: Fed awaits 'more information' to gain confidence in rate cut

Fed minutes: Fed awaits 'more information' to gain confidence in rate cut

CointimeCointime2024/07/04 08:25
By:Cointime

According to the minutes of the Federal Reserve meeting, the vast majority of officials believe that US economic growth is gradually cooling down; most participants believe that the current policy stance is restrictive; the Federal Reserve is waiting for "more information" to gain confidence in cutting interest rates; some participants stated that policies should be prepared to respond to unexpected economic weakness at any time; several Federal Reserve officials said that if demand weakens, the unemployment rate may rise. The minutes of the Federal Reserve meeting showed that several participants stated that if inflation continues at a high level or further rises, it may be necessary to raise interest rates; participants believe that "further modest progress has been made" in achieving the committee's 2% inflation target in recent months.

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