A September rate cut looks nailed on after minutes from the US Federal Reserve’s last meeting, released last night, showed many rate-setters had considered a cut in July. Several members at the Fed’s last meeting thought there was a “plausible case” for cutting rates by 25 basis points given the progress on inflation and increases in unemployment. “The vast majority observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting,” the minutes…
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