Topline
While a majority of the Federal Reserve’s policymaking panel voted last month to lower interest rates, officials disputed how many additional cuts could come this year, with “around half” favoring two more easements by December, according to minutes from the panel’s meeting released Wednesday.
“Almost all” of the Fed’s Federal Open Market Committee expected a 25-basis-point cut to interest rates in September, while the “vast majority” projected two cuts by the end of the year, and “around half” expected three.
A “dot plot” marking individual expectations from Fed officials indicated a 10-9 split, with the majority expecting two more quarter-point rate cuts by its last meeting in December, potentially lowering rates to between 3.5% and 3.75%.
This is a developing story.