#FOMCMinutes The FOMC minutes refer to the minutes of the Federal Open Market Committee meeting, which are released three weeks after each policy decision. The most recent minutes available are from the meeting on July 29-30, 2025.

*Key Highlights from the July 2025 FOMC Meeting:*

- *Interest Rates:* The Fed kept rates at 4.25%-4.5% and continued to reduce its balance sheet, focusing on flexibility amid persistent inflation and employment risks.

- *Economic Outlook:* Officials noted strong conditions in the labor market, ongoing tariff pressure, and moderate economic growth. Inflation is slightly above the 2% target, with goods prices accelerating due to tariffs.

- *Rate Cuts:* Although no rate cut was made at this meeting, some officials, such as governors Christopher Waller and Michelle Bowman, disagreed in favor of a rate cut, indicating a growing debate within the FOMC.

- *Future Policy:* The Fed remains data-dependent and is well-positioned to adjust policy as conditions evolve. Markets are pricing in potential rate cuts in September, with odds falling from over 65% to less than 50% ¹ ².

*Where to Find the FOMC Minutes:*

You can access the FOMC minutes on the Federal Reserve's website, which includes ³:

- *Meeting Calendars:* Agendas and information about future meetings

- *Statements and Minutes:* PDF and HTML versions of meeting minutes and policy statements

- *Press Conferences and Projection Materials:* Additional resources and insights from FOMC meetings

For the latest information on FOMC minutes and meetings, visit the official Federal Reserve website.