Fed Interest Rate Debate Exposed in New Minutes

The Federal Reserve's internal debate on interest rates is about to get more scrutiny as minutes from its July meeting are released. The discussion produced three dissents in favor of a quarter-point rate increase, an unusual level of disagreement among policymakers.

BMO Capital Markets Senior Economist Jennifer Lee expects the Fed to remain patient, forecasting no rate move until late 2027 when it anticipates the central bank will start cutting rates.