FED JULY MINUTES

The Fed’s July minutes showed rare division: most favored holding rates at 4.25%–4.5%, but two governors pushed for immediate cuts — the first such split in 30+ years.

Concerns diverged between inflation risks and a weakening labor market. The Fed faces a tough trade-off: cut too soon and risk inflation, wait too long and risk recession.

All eyes now turn to Chair Powell’s Jackson Hole speech this Friday for signals on the next move.