Analysis: meeting notes are a bit outdated, Powell's speech this week is the focus

Paul Ashworth, an analyst at Capital Economics, wrote: "The July meeting notes show broad agreement among Fed officials to keep rates on hold, with the exception of two governors who wanted to cut rates in July. In this regard, this is a slightly hawkish signal for the September meeting. But since the minutes predate the dismal July jobs report, it is difficult to get too many clues about the future from the minutes. Given the subsequent data release, the minutes are clearly outdated, and Fed Chairperson Powell's speech in Jackson Hole this week should shed more light on whether a September rate cut is a foregone conclusion."