'Many' Fed officials said in June they'd be willing to cut interest rates
Minutes of the Federal Reserve’s June meeting added to the sense that the central bank is prepared to cut interest rates at their meeting at the end of this month.
Powell has been testifying all day before the House Financial Services Committee. In remarks widely seen as dovish, he said that the economy has not picked up since the Fed meeting and repeated the Fed is ready to act as needed to support demand. According to the minutes, only “some” Fed officials argued there was not yet a “strong case” for a rate cut.
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