Instant View: July FOMC minutes - 25 basis points cut seen as a mid-cycle adjustment

- The Federal Reserve debated cutting interest rates more aggressively at its July meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts, minutes showed.

FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo The U.S. central bank cut rates by 25 basis points at the close of the meeting, with records published on Wednesday showing broad concern among policymakers over a global economic slowdown, trade tensions and sluggish inflation.* A couple Fed policymakers would have preferred a 50 bp rate cut in July to address low inflation

* Most policymakers viewed a 25 bp cut as part of a recalibration of policy stance, or mid-cycle adjustment, in response to recent changes in economic outlook* Policymakers generally favored an approach that avoided any appearance of the Fed being on a preset course

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