On July 9, 2025, the FOMC Meeting Minutes from the June 17-18 session were released, providing insights into Federal Reserve policymakers' views on monetary policy, inflation, and economic risks.
Key Highlights from the FOMC Minutes:
The FOMC unanimously voted to hold the federal funds rate at 4.25%–4.5% .
There was a notable split among members regarding the impact of tariffs on inflation:
Some saw tariffs causing only a one-time price increase with no lasting inflation effect.
Most feared tariffs could lead to more persistent inflationary pressures
The committee acknowledged elevated uncertainty around tariff policy and its timing, size, and duration of inflation effects.
Labor market conditions were viewed as solid but with some softening expected due to policy uncertainty and tariffs.
The committee remains cautious about the trade-offs between inflation and employment goals, favoring a gradual approach to future rate cuts.
Only a narrow minority of policymakers supported an immediate rate cut with most preferring to wait for clearer economic signals.
Market Reaction and Price Action
Gold Price Action:
Gold prices reacted to the minutes with modest volatility, as persistent inflation concerns support gold’s safe-haven appeal.
Gold remains near elevated levels around $3,250 to $3,316 per ounce, consolidating after recent gains.
The cautious Fed stance and tariff uncertainty underpin demand for gold as a hedge against inflation and geopolitical risks.
Summary Table
Event Details
FOMC Rate Decision Held at 4.25%–4.5%
Inflation Views Split on tariff impact; risk of persistent inflation
Rate Cut Support Narrow support for immediate cut in July
Overall Outlook
The Fed minutes reinforce a cautious, data-dependent approach to monetary policy, with inflation risks balanced against growth concerns.
Gold benefits from ongoing inflation worries and geopolitical uncertainty, maintaining strong support.
#GOLD
Key Highlights from the FOMC Minutes:
The FOMC unanimously voted to hold the federal funds rate at 4.25%–4.5% .
There was a notable split among members regarding the impact of tariffs on inflation:
Some saw tariffs causing only a one-time price increase with no lasting inflation effect.
Most feared tariffs could lead to more persistent inflationary pressures
The committee acknowledged elevated uncertainty around tariff policy and its timing, size, and duration of inflation effects.
Labor market conditions were viewed as solid but with some softening expected due to policy uncertainty and tariffs.
The committee remains cautious about the trade-offs between inflation and employment goals, favoring a gradual approach to future rate cuts.
Only a narrow minority of policymakers supported an immediate rate cut with most preferring to wait for clearer economic signals.
Market Reaction and Price Action
Gold Price Action:
Gold prices reacted to the minutes with modest volatility, as persistent inflation concerns support gold’s safe-haven appeal.
Gold remains near elevated levels around $3,250 to $3,316 per ounce, consolidating after recent gains.
The cautious Fed stance and tariff uncertainty underpin demand for gold as a hedge against inflation and geopolitical risks.
Summary Table
Event Details
FOMC Rate Decision Held at 4.25%–4.5%
Inflation Views Split on tariff impact; risk of persistent inflation
Rate Cut Support Narrow support for immediate cut in July
Overall Outlook
The Fed minutes reinforce a cautious, data-dependent approach to monetary policy, with inflation risks balanced against growth concerns.
Gold benefits from ongoing inflation worries and geopolitical uncertainty, maintaining strong support.
#GOLD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.