Federal Reserve Officials Expect Lower Interest Rates

Federal Reserve officials agree that interest rate cuts will occur, but there is disagreement on how aggressively the central bank will act this year, according to the latest released minutes.

At the June 17–18 policy meeting, the Fed left interest rates unchanged for the fourth consecutive meeting. The benchmark federal funds rate—which influences business, consumer, and government borrowing costs—was left at a target range of 4.25 percent to 4.5 percent.