No reading between the lines here! The notes from the Fed's last meeting were explicit about "likely" upcoming rate cuts. And remember, that meeting happened BEFORE: 1) the July CPI came in lower than expected, and 2) the 818K downward revision to jobs growth from the March 2024 QCEW report. #fed #rates #ratecuts #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow