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FOMC Sees Material Increase in Downside Risk

Thursday, July 11, 2019   (0 Comments)
Posted by: Amanda Averch
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Downside risks to the economic outlook rose “materially” since the May meeting of the Federal Open Market Committee, according to the minutes from the group’s June 18-19 meeting released yesterday. Members noted significant shifts in the interim period, including a slowing in business investment, as well as uncertainties surrounding trade and weakened global growth, which prompted the FOMC to hold interest rates steady.

 

Committee members signaled that “additional monetary policy accommodation would be warranted in the near term should these recent developments prove to be sustained,” fueling speculation that the FOMC could cut interest rates at its next meeting at the end of July. Read the minutes.

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