'Vast majority' of Fed members see September rate cut on more inflation progress
Investing.com – The"vast majority" of Federal Reserve policymakers signaled that it may be appropriate to begin cutting rates next month should the recent progress on inflation continue.
The central bank's monetary policy has been in data dependent mode since it delivered its tenth rate hike in May last year. " Almost all participants remarked that while the incoming data regarding inflation were encouraging, additional information was needed to provide greater confidence that inflation was moving sustainably toward the Committee’s 2 percent objective before it would be appropriate to lower the target range for the federal funds rate," the minutes showed.
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