Backing up testimony from Federal Reserve Chairman, Jerome Powell, the U.S. central bank sees a strong case of a rate cut building, according to the minutes from the June Federal Open Market Committee (FOMC) meeting. Although the U.S. central bank left interest rates unchanged following the meeting, the minutes showed support for looser monetary policy as economic risks weighed to the downside. "Participants judged that uncertainties and downside risks surrounding the economic outlook had increased significantly over recent weeks," the minutes said. "Many participants noted that they viewed the risks to their growth ... (full story)