Five Things You Need to Know to Start Your Day

Fed minutes, a China rate cut and a housing update.

An account of the discussion at the Federal Reserve’s July policy meeting may offer clues as to what would push the central bank to go big with tightening yet again in September. Since that meeting, contrasting data have shown a stronger-than-forecast labor market and inflation below forecasts. Meanwhile, money markets are pricing about 60 basis points of tightening when the Fed meets next.