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(Bloomberg) -- Several Federal Reserve officials acknowledged there was a plausible case for cutting interest rates at their July 30-31 meeting before the central bank’s policy committee voted unanimously to keep them steady.Most Read from BloombergThe Serious Work That Free Play Can Do“Several observed that the recent progress on inflation and increases in the unemployment rate had provided a plausible case for reducing the target range 25 basis points at this meeting or that they could have su

(Bloomberg) -- Gold traded near a record high as Federal Reserve minutes and a downward revision of US payrolls reinforced expectations that policymakers will cut interest rates in September.Most Read from BloombergThe Serious Work That Free Play Can DoSeveral Federal Reserve officials acknowledged there was a plausible case for cutting interest rates at their July 30-31 meeting before the central bank’s policy committee voted unanimously to keep them steady. Swap traders now expect a quarter-po

Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed’s July 30-31 meeting, released Wednesday, said the “vast majority" of policymakers “observed that, if the data continued to come in about as expected, it would likely be appropriate to ease policy at the next meeting.” In July, the policymakers kept their benchmark rate at 5.3%, a near-quarter-century high, where it's stood for more than a year.

(Bloomberg) -- Ovintiv Inc. is considering a possible sale of its operations in the Uinta Basin, which could fetch as much as $2 billion, people with knowledge of the matter said.Most Read from BloombergThe Serious Work That Free Play Can DoDenver-based Ovintiv is working with an adviser to gauge buyer interest in the asset, the people said, asking not to be identified discussing confidential information. Ovintiv’s operations in the Central Basin of Utah involves drilling in about 2,600 feet of

Wednesday's release shows the US labor market added fewer jobs than initially reported in the 12-month period ending in March 2024 but economists are wary about reading too much into the release.

The revised total adds to evidence that the job market has been steadily slowing and likely reinforces the Federal Reserve's plan to start cutting interest rates soon. The Labor Department estimated that job growth averaged 174,000 a month in the year that ended in March — a drop of 68,000 a month from the 242,000 that were initially reported. The revisions released Wednesday were preliminary, with final numbers to be issued in February next year.

In a Fortune exclusive, Chicago Fed president Austan Goolsbee discusses working with Jerome Powell, base rate cuts, and Fed independence.