FOMC Minutes: Vast majority said it would likely be appropriate to cut at next meeting ...Middle East

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FOMC Minutes: Vast majority said it would likely be appropriate to cut at next meeting
The FOMC meeting on July 31 marked the first time since ending its tightening stance that Fed Chair Powell explicitly put a rate cut on the table for the next meeting. That led to a 10 bps drop in 2s on that day.Vast majority said it would likely be appropriate to cut if data unfolded as expectedViewed incoming data as enhancing confidence that inflation headed towards 2%"Several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have supported such a decision.""Almost all participants remarked that while the incoming data regarding inflation wer

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