The Federal Reserve's recent meeting minutes indicated a growing consensus among members for a potential interest rate cut in September, as most participants believe inflation risks have receded and economic data supports easing policy. While the decision to keep rates unchanged was unanimous, a few members advocated for a cut as early as July, citing improvements in inflation and rising unemployment as justifications. The Fed's economic growth forecast for the latter half of 2024 has been lowered due to weaker labor market conditions. Upcoming discussions at the Jackson Hole Economic Symposium may further clarify the Fed's stance, with Chairman Jerome Powell expected to adopt a more dovish tone. The symposium, which has historically influenced monetary policy, will focus on the effectiveness of recent measures and the shift from inflation to labor-market considerations. Overall, the environment is increasingly conducive to a rate cut, contingent on forthcoming economic data.