Fed: July rate cut was a mid-cycle adjustment – ANZ
Fed: July rate cut was a mid-cycle adjustment – ANZ By Sandeep Kanihama | August 22, 2019 09:07 GMT. According to ANZ analysts, the FOMC minutes for the July meeting came and went with little fanfare. “Most officials viewed the July rate cut as a mid-cycle adjustment in response to the evolution of the economic outlook. “Guidance from here remains data dependant, with minutes noting policy needs to be guided by incoming information, and avoid any appearance of following a pre-set course. Since the July meeting, Trump has announced an additional 10% tariff on imports from China, so it’s fair to say the world has changed a bit.