Fed officials sought flexibility amid conflicting economic signals, minutes show

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Fed officials sought flexibility amid conflicting economic signals, minutes show
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Minutes of the Fed's July interest-rate policy meeting reinforce the message that Jerome Powell sent to investors three weeks ago, when he dismissed the idea that the July rate cut was the start of a series of cuts

Washington Minutes of the Fed's July interest-rate setting policy meeting released Wednesday showed that central bankers are eager"to maintain optionality" when it comes to charting the course of future interest rate changes for the remainder of this year -- and into 2020.

The minutes will reinforce the message that Federal Reserve Chairman Jerome Powell sent to investors three weeks ago, when he described the July rate cut as a"mid-cycle adjustment" and dismissed the idea that it was the start of a series of cuts. The Fed typically does a string of cuts only when the economy is in a severe downturn or a recession.

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