Fed Minutes Reveal Patient Approach to Rate Cuts

No urgency to cut rates
Most Fed officials want to wait; only a couple supported a July rate cut.

Inflation still above target
Recent price increases—partly due to tariffs—are expected to be temporary.

Split views on future cuts
Some members see no need for cuts this year, while others are open to one or two if inflation falls.

Economy remains strong
Growth and hiring are solid, giving the Fed room to stay patient.

Market expects first cut in September
Traders see almost no chance of a cut in July, but high odds for September.

Fed tone: cautious and data-driven
They’re not ruling out cuts—but not rushing into them either.