The Federal Reserve’s June Federal Open Market Committee meeting minutes will be released on Wednesday afternoon.

Yahoo Finance Reporter Jennifer Schonberger joins Morning Brief to discuss what to expect from the Fed’s meeting minutes.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Nicholas Jacobino

Video Transcript

Federal Reserve meeting minutes are going to be released set to be released this afternoon after Fed Chair Powell reiterating the need for more data before the central bank can really loosen monetary policy here to discuss.

We got Yahoo finance is very own.

Jennifer Jennifer.

Good morning ma that JP said Tuesday, he’s encouraged by the latest cooler readings on inflation, but the central bank needs to see more evidence that inflation is dropping before cutting interest rates.

Take a listen.

I think the last reading and, and the one before it to uh and inflation, the one before it to a lesser lesser extent do suggest that we are getting back on a on a disinflationary path.

We want to be more confident that inflation is moving sustainably down toward 2% before we start the process of uh of uh reducing uh how tight uh our our policy is of of loosening policy.

Powell’s comments come days after the latest reading on the fed’s preferred inflation gauged the personal consumption expenditures index excluding volatile food and energy prices which showed prices rose 2.6% in May down from 2.8% in April marking the slowest annual gain in more than three years.

Inflation is slowing after showing signs of stalling in the first quarter which had caused Fed officials to look at holding rates higher for longer.

Powell says the fed wants to understand whether the levels the fed is seeing on inflation are a true reading on what’s actually happening with underlying inflation and reiterated that the fed can afford to be patient given a strong job market that’s gradually cooling.

Still comments, cheered investors looking for rate cuts later this year with investors pricing in nearly a 60% chance of the first rate cut in September.

Today, we will get minutes from the central bank’s last policy meeting though, those may be a bit dated because we did not have the latest reading of the fed’s preferred inflation gauge core P ce at the time guys.

All right, Jennifer, thank you so much for joining us.

We really appreciate it.