Analysis: Fed Meeting Minutes Reveal Three Factions Within the Central Bank

According to ChainCatcher, as reported by Federal Reserve spokesperson Nick Timiraos, the Fed meeting minutes revealed several points we were already aware of. Officials (regarding the interest rate path) are divided into three main camps:

· Rate cuts within the year but excluding July (mainstream camp);

· No action for the entire year;

· Advocating for immediate action at the next meeting (the minutes indicate that only a "minority" of participants supported this, suggesting it refers to Fed Governors Waller and Bowman).