The Federal Reserve’s July meeting minutes reveal that several officials saw a case for cutting interest rates, with the majority expecting a rate cut in September if economic data aligns with expectations. This shift in sentiment reflects growing confidence in inflation progress and increased concerns about employment risks. The minutes highlight a more balanced view of risks to the Fed’s dual mandate, suggesting that policymakers are preparing for potential rate cuts while closely monitoring economic indicators. This development comes amid recent data showing slowing job growth and easing inflation, which could support the case for monetary policy easing in the near future.