🔥 SUMMARY OF MINUTES OF THE JULY FED MEETING

The minutes were published at 1:00 a.m. this morning, summarizing the main points of the Fed's July meeting:

1. Most Fed members believe lowering interest rates at the next meeting is appropriate if data continues to come out as expected

2. Recent data has helped the FED gain more confidence about the downward path of inflation

3. Some FED members have considered cutting interest rates by 0.25% in July, instead of September

4. Most FED members said the risk of unemployment is increasing

5. Economic growth prospects for the second half of 2024 are lowered

6. Loosening too late can weaken the economy unnecessarily

The first interest rate cut since 2020 will almost certainly take place in September.

The question now is not whether the FED will reduce interest rates or not, but how much will they reduce, 0.25% or 0.5%, in September? And what will the roadmap look like after that?