A lower Fed benchmark rate would lead eventually to lower rates for auto loans, mortgages and other forms of consumer borrowing and could also boost stock prices.
Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as, released Wednesday, said the “vast majority” of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.”
Wall Street traders had already considered it a certainty that the Fed will announce its first interest rate cut in four years when it meets in mid-September, The minutes of the Fed’s meetings sometimes reveal key details behind the policymakers’ thinking, especially about how their views on interest rates might be evolving.Charles GasparinoBig banks brace for downward revision of up to 1M fewer jobs -- fueling worries the Fed failed to slash rates on timeJulia Fox wears her underwear as an accessory to back-to-back red carpet premieres
Economy Federal Reserve Inflation Interest Rates Jerome Powell
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