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Fed Minutes Show Many Saw a Stronger Rate-Cut Case

Bloomberg business news
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Federal Reserve officials judged uncertainties and downside risks to the outlook for the U.S. economy had increased significantly when they gathered in June, strengthening the case for an interest-rate cut.

“Many judged additional monetary policy accommodation would be warranted in the near term should these recent developments prove to be sustained and continue to weigh on the economic outlook,’’ according to the minutes of the June 18-19 Federal Open Market Committee released Wednesday in Washington.