The minutes from the Federal Open Market Committee (FOMC) meeting held on July 29-30, 2025, were released today, August 20, 2025.

Key takeaways from the minutes include:

* The decision to hold interest rates steady was not unanimous. Two officials, Christopher Waller and Michelle Bowman, dissented and preferred a rate cut.

* The minutes provide more insight into the division among committee members regarding the future of interest rates.

* The minutes were released before the latest jobs data, which showed weaker-than-expected job creation in July. This new data has led to a rapid increase in the probability of a rate cut in September, with the CME's FedWatch tool showing an 85% probability of a quarter-point reduction.

For more detailed information, you can refer to the official FOMC calendar and press releases on the Federal Reserve Board website.

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