Three FOMC members voted to raise the rate
The Federal Reserve released the minutes of its July meeting. The target range stayed at 3.50–3.75%, but the vote was nine to three: Hammack, Kashkari and Logan wanted a quarter-point hike. Several participants called price pressures broad based and argued for a more restrictive stance.
A separate worry in the minutes: the buildout of AI computing capacity is increasingly financed by borrowing, including credit from nonbank lenders.
Markets spent this week celebrating easier conditions. The minutes read the other way round. FOMC minutes.
#analysis
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The Federal Reserve released the minutes of its July meeting. The target range stayed at 3.50–3.75%, but the vote was nine to three: Hammack, Kashkari and Logan wanted a quarter-point hike. Several participants called price pressures broad based and argued for a more restrictive stance.
A separate worry in the minutes: the buildout of AI computing capacity is increasingly financed by borrowing, including credit from nonbank lenders.
Markets spent this week celebrating easier conditions. The minutes read the other way round. FOMC minutes.
#analysis
📈 ByBit: up to $30,000 bonus — my pick for trading!
🔗 My channels: Youtube • X • LinkedIn • Instagram • Threads