- “Substantial majority” supported 50bp cut
- Committee gained “greater confidence” inflation moving sustainably toward 2% goal
- Risks to employment and inflation goals now seen as “roughly in balance”
- Economic activity expanding at “solid pace”, job gains slowed but unemployment remains low
- Inflation made “further progress” but still “somewhat elevated”
- Most participants see balanced risks to inflation outlook
- Some members would have preferred 25bp cut, citing still-elevated inflation and solid growth
- Bowman dissented, preferring 25bp cut due to core inflation well above target
- Members anticipate moving toward more neutral policy stance over time if data evolves as expected
- Committee will “carefully assess” data for additional rate adjustments
This article was written by Adam Button at www.forexlive.com. Source