Fed debated cutting interest rates more aggressively at last meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts
FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo
The U.S. central bank cut rates by 25 basis points at the close of its July 30-31 meeting, with minutes for the meeting published on Wednesday showing broad concern among policymakers over a global economic slowdown, trade tensions and sluggish inflation.preferred a 50 basis point cut,” according to the minutes, saying the policymakers favoring such a move were concerned by inflation being too low.
“Participants generally favored an approach in which policy would be guided by incoming information ... and that avoided any appearance of following a preset course,” according to the minutes.
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