Fed’s minutes show a September rate cut is ‘likely’

U.S. central bank officials left interest rates unchanged at the Federal Open Market Committee meeting last month but opened the door to a cut at the Sept. 17-18 session.

Federal Reserve officials last month were strongly leaning toward an interest rate cut at their September policy meeting and several of them would have even been willing to reduce borrowing costs immediately, according to the minutes of the July 30-31 gathering.