""A few participants stated there was merit in keeping the federal funds rate unchanged at this meeting or that they could have supported such a decision,""
"Still, the minutes showed that "almost all" Fed officials supported the rate cut."
""These participants noted that progress toward the Committee's 2 percent inflation objective had stalled this year as inflation readings increased," the minutes show."
""Several participants saw continuing adoption of artificial intelligence as potentially reducing labor demand," the minutes show."
Almost all Fed officials supported a quarter-point cut to the federal funds rate, and most said further cuts would likely be appropriate over the remainder of the year. A few participants favored leaving rates unchanged, and one newly confirmed governor dissented in favor of a larger half-point cut. Several officials expressed concern that progress toward the 2 percent inflation objective had stalled, noting tariff increases and rising inflation readings. Officials cited emerging cracks in the labor market and warned that continuing adoption of artificial intelligence could reduce labor demand. Some participants observed that financial conditions may not be as restrictive as commonly believed.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]