Fed minutes show no support for rate cuts

Minutes released by the Federal Reserve showed no mention of support for an interest rate cut, underscoring a clear shift in the central bank’s policy discussions over the past year. With recent data pointing to slight signs of easing inflation and companies unexpectedly reducing hiring in July, markets expect the Fed to leave its benchmark rate unchanged again at its Sept. 15-16 meeting. Against that backdrop, Fed officials remain divided on whether additional rate hikes are needed to further contain inflation, while also taking a more cautious view of risks tied to labor-market resilience and the full-employment goal. Fed Chair Wush has refrained from commenting on the monetary policy path during the remainder of the term, leaving markets without clear guidance from the central bank’s top official.