Washington Post

Federal Reserve officials were divided on whether to cut rates, meeting minutes show

Federal Reserve Banks præsident Jerome Powell. Foto: AP/Stefani Reynolds

WASHINGTON - Federal Reserve officials viewed the July interest rate cut as a "recalibration" of monetary policy and not as the start of a long string of reductions, according to minutes from the July meeting released on Wednesday.

Members were divided on how to move to combat apparent soft spots in the economy, with a "couple" of members wanting to cut interest rates by half a percentage point in July, instead of a quarter of a percentage point, to combat low inflation, according to the minutes...

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