Beijing, China - August 22, 2024

The Federal Reserve of the United States released its latest monetary policy meeting minutes on Wednesday, which hinted the U.S. central bank could cut interest rates in September.

The minutes revealed that "the vast majority" of participants at the July 30-31 Federal Open Market Committee (FOMC) meeting thought that it would likely be appropriate to ease policy at the next meeting if economic data come in as expected.

Noting that upside risks to the inflation outlook have diminished while downside risks to employment have increased, the policymakers said that reducing policy restraint too late or too little could unduly weaken economic activity or employment.

The minutes said that the Fed moves closer to a first interest rate reduction next month, with at least one more cut later in the year, and further policy easing next year.

During the meeting, participants also discussed risks and uncertainties around economic outlook, according to the minutes.

Shotlist:
Beijing, China - Aug 22, 2024:
1. Screenshot of minutes of Federal Open Market Committee (FOMC);
FILE: Washington D.C., USA - May 4, 2022
2. Various of U.S. Federal Reserve building;
FILE: USA - Date Unknown
3. Various of U.S. dollar banknotes being printed;
FILE: New York City, USA - Date Unknown
4. Various of Time Square, pedestrians, traffic;
FILE: Salt Lake City, Utah, USA - July 14, 2022
5. Various of customers, products, price tags in supermarket;
FILE: Virginia, USA - May 19, 2022
6. Board showing gas prices;
7. Various of vehicles at gas station;
FILE: Racine, Wisconsin State, USA - December 2019
8. Various of workers in farming equipment factory;
FILE: USA - Date Unknown
9. Various of facilities, ships, containers at port.

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