Global Macro Service > Research Briefings > United States

FOMC minutes confirm dovish Fed tilt

The minutes from the June 18-19 FOMC meeting underscored the message that Chair Powell delivered to Congress earlier today: the Fed is poised to cut rates by 25bps on July 31. The minutes confirm that policy makers and Fed staffers see greater downward risk to economic growth stemming from increased global crosscurrents.

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