Fed July Minutes: Key Passage Near End on Balance-Sheet Shrinking

The Federal Reserve’s July meeting minutes were released on Wednesday. According to the source, the line that matters is located near the end of the document, in a paragraph most readers will have already scrolled past.

The focus is on why the Fed keeps shrinking its record balance sheet. The relevant section is described as 115 words covering six meetings, suggesting a concise but significant policy signal.

No additional details from the minutes were provided in the source.