U.S. Fed Avoids Big Rate Cut
CBJ — The U.S. Federal Reserve contemplated cutting interest rates more aggressively at its last meeting, however, central bankers were united in wanting to avoid the appearance of trending on a path to more rate cuts in the future.
The U.S. central bank cut rates by 25 basis points at the close of its July 31 meeting. Minutes of the meeting show a widespread concern among policymakers over an international economic downturn along with trade disputes and sluggish inflation.
The Fed has come under increasing pressure to cut borrowing costs more, including a call by President Donald Trump for the Fed to slash its benchmark rate.