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Fed minutes hint at potential rate cut next month
04:15
US
Fed minutes hint at potential rate cut next month
US stocks climbed in Wednesday trading after the minutes from the US Federal Reserve's July meeting showed policymakers were ready to start cutting interest rates. The minutes said the vast majority felt that if data came in as expected, a September cut was likely to be appropriate. The dollar traded near the lowest in more than a year against the euro and sterling on Thursday. Meanwhile non-farm payrolls were revised down by more than 800-thousand, the largest since 2009, adding to concerns about the economy. Traders are now turning their attention to Fed chair Jerome Powell's expected speech at the Jackson Hole Economic Symposium on Friday, hoping for further insight into rate policy.
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