The Federal Reserve's meeting minutes reveal policy differences, Citigroup maintains September rate cut expectations

Citi, after analyzing the minutes of the Federal Reserve's June FOMC meeting, maintains its expectation for a rate cut in September. The minutes show that there are differing opinions among committee members, with some officials supporting a rate cut in July, while the majority believe that a rate cut later in 2023 is appropriate. Citi predicts that inflation concerns will ease in September, while worries about the labor market will intensify, prompting the Federal Reserve to continue cutting rates to a range of 3-3.25%. The Vice Chairman of the Federal Reserve emphasized the importance of liquidity tools, and Chairman Powell stated that the monetary policy framework will be reassessed