Fed Minutes: The Fed is waiting for "more information" to gain confidence in rate cuts

Jinshi Data News on July 4th, the minutes of the Federal Reserve meeting showed that officials believed that it was inappropriate to lower borrowing costs before there was “more information to give them confidence” that inflation was moving towards the 2% target. “The vast majority” of Federal Reserve officials assessed that economic growth “seems to be gradually cooling down, and most participants believe that the current policy stance is restrictive.” Officials said that the monthly increase in the core personal consumption expenditure price index was small, indicating that inflation had made significant progress and was supported by May CPI data.