Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts

WASHINGTON (AP) — Federal Reserve officials at their most recent meeting welcomed recent signs that inflation is slowing and highlighted data suggesting that the job market and the broader economy could be cooling.

Both trends, if they continued, could lead the Fed to cut its benchmark interest rate in the coming months from its 23-year peak.

The minutes of the Fed’s June 11-12 meeting, released Wednesday, showed that the policymakers saw several factors that could further ease inflation in the coming months.