(Finance) – Growth is gradually cooling but “more information” is needed before gaining the confidence needed for a rate cut. This is the assessment that emerged among officials at the meeting of the Federal Reserve of June 11th and 12th.
“The overwhelming majority of participants assessed that economic activity growth appears to be gradually cooling, and most participants stressed that they view the current policy stance as restrictive,” minutes of the June meeting read.
Despite the slowdown, members of the FOMC they did not consider it “appropriate to lower the target range for the rate” until “additional information” emerged that gave them greater confidence that inflation was moving “sustainably towards the 2% objective”.