The meeting summary depicted a divergence of opinion among the central bankers, whose vote to hold their key rate steady came despite objections from two Fed governors who argued in favor of cutting. “Participants generally pointed to risks to both sides of the Committee’s dual mandate, emphasizing upside risk to inflation and downside risk to employment,” the minutes noted. U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following the issuance of the Federal Open Market Committee’s statement on interest rate policy in Washington, D.C., U.S., July 30, 2025. Jonathan Ernst | Reuters
Federal Reserve officials worried at their July meeting about the state of the labor market and inflation, though most agreed that it was too soon to lower interest rates, minutes released Wednesday showed.
The meeting summary depicted a divergence of opinion among the central bankers, whose vote to hold their key rate steady came despite objections from two Fed governors who argued in favor of cutting.
Policymakers noted rising threats to the economy that would warrant monitoring, though they largely agreed that