Minutes show some on FOMC wanted rate cut in May

- Central Banking staff
- 27 Jun 2003

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Minutes from the Fed's May 6 policy meeting showed that members would not wait indefinitely for the clouds to clear before lowering rates again in response to falling inflation rates and sluggish economic growth. The Committee authorised Vice Chairman William McDonough to accept the "Order of the Aztec Eagle" honour to be awarded by the government of Mexico.

Source: Washington Post

Some Federal Reserve officials believed in early May that they might need to cut interest rates again to spur

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