According to the FOMC Minutes, the two Federal Reserve policymakers who disagreed with the central bank's decision to keep interest rates the same last month were not joined by other policymakers in calling for lower rates at that meeting.
Key Quotes
Almost all participants at the Fed's July 29–30 meeting viewed it as appropriate to maintain the benchmark interest rate in the 4.25%–4.50% range.
Participants noted it would take time to have more clarity on the magnitude and persistence of higher tariffs' effects on inflation.
Participants assessed the impact of tariffs had become more apparent in goods prices, but overall effects on the economy and inflation remained to be seen.
A couple of participants highlighted the role of the standing repo facility in monetary policy implementation and expressed support for further study of central clearing of the srf.
Some participants said it would not be feasible or appropriate to wait for complete clarity on the tariffs' effects on inflation before adjusting monetary policy.
Several participants said the current target range for the federal funds rate may not be far above its neutral level.
Fed staff's real GDP projection for 2025 through 2027 was similar to the one prepared for the June meeting.
Participants said the consensus statement would be designed to be robust across a wide range of economic conditions.
Participants noted that the policy committee was close to finalizing changes to the consensus statement as part of the framework review.
Source : Fxstreet
The Fed held rates steady at 4.25%–4.50% for a fifth straight meeting, as expected, but two governors dissented in favor of a cut the first such dual dissent since 1993. Policymakers observed that, w...
In a post published on Truth Social on Wednesday (August 20th), US President Donald Trump urged Federal Reserve Governor Lisa Cook to resign, linking to a Bloomberg article titled "Trump Allies Urge B...
The US Federal Reserve's decision last month to keep interest rates unchanged sparked a dissenting opinion from two leading central bankers who wanted to lower rates to prevent further labor market we...
Federal Reserve Chairman Jerome Powell is set to speak at the annual central bank symposium this week amid growing bets that a rate cut is nearly guaranteed next month. But Powell may defy expectation...
Federal Reserve Chair Jerome Powell will give a speech on the economic outlook and the Fed's review of its policy framework next Friday at the Kansas City Fed's annual central banking conference in Ja...
Gold edges lower in early Asian trade, ahead of the three-day Jackson Hole symposium that begins Thursday. Fed Chair Powell's speech on Friday is expected to be an update on the central bank's monetary policy framework, says Jim Wyckoff, a senior...
Japanese stocks are lower in early trade after U.S. tech stock selling continued overnight. Pharmaceutical and auto stocks are leading the declines. Daiichi Sankyo is down 5.6% and Honda Motor is 1.7% lower. USD/JPY is at 147.37, compared with...
Asia-Pacific markets mostly rose as investors assessed the four-day losing streak for the S&P 500, led by declines in tech stocks. Investors in the region are awaiting India's HSBC Composite flash purchasing managers' index reading for August,...
Federal Reserve Chairman Jerome Powell is set to speak at the annual central bank symposium this week amid growing bets that a rate cut is nearly...
Asia-Pacific markets mostly fell Tuesday as investors await the outcome of the talks between U.S. President Donald Trump, Ukraine's President...
The S&P 500 ended slightly lower Monday, as investors digested a meeting between Ukraine President Volodymyr Zelensky and U.S. President Donald...
United States (US) President Donald Trump announced an ongoing desire to resolve the ongoing Russia-Ukraine war during a joint press conference with...