FRB confirms easing of price pressure Further confidence is necessary to cut interest rates = summary of proceedings

July 4, 2024 5:21 AM GMT+9 (some excerpts)

In the summary of the Federal Open Market Committee (FOMC) proceedings of 6/11-12 announced by the US Federal Reserve (FRB) on the 3rd, it became known that while showing recognition that “price pressure is weakening,” they showed the idea that they wanted to maintain a wait-and-see attitude before deciding to cut interest rates.
According to the summary of proceedings, while showing recognition that the US economy seems to be slowing down, “it is not assumed that the target range reduction in federal fund (FF) interest rates will be appropriate until additional information that strengthens confidence that inflation is continuously slowing toward the 2% target comes out.”