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Rate Cuts a ‘Mid-Cycle Adjustment’: Minutes

Most Federal Open Market Committee members viewed this month’s interest rate cut as a “mid-cycle adjustment,” rather than as part of a “preset course,” according to minutes¬†of the July 30-31 meeting. Participants said the nature of the economic risks contributing to the decision to cut rates by 25 basis points highlighted the need for rate-setters to remain flexible.

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