The minutes are dry, but they contain clues about what the central bank might do next.

“Marketplace” host Kai Ryssdal spoke with Austan Goolsbee, president and CEO of the Federal Reserve Bank of Chicago, about Fed independence, what the government shutdown means for federal data, and inflation risks.

The Federal Reserve just cut interest rates by a quarter of a percentage point. While that should affect rates throughout the economy, some lenders report that not much has changed.

But he doesn’t have long to convince his new colleagues, who remain skeptical.

With mortgage rates below 6.5%, lots of recent buyers are deciding to refinance. But there hasn’t been a similar increase in prospective buyers entering the market.

They’ve already come down in anticipation. But what Chair Powell says during the press conference could shed light on whether they’ll continue to fall.

The expectation is that the Fed will cut rates — but what if inflation spiked in August? 

According to the August Beige Book, nearly every district reported a modest rise in demand for loans.

The Federal Reserve Board of Governors is in the news, but don’t forget that five of the twelve people voting on interest rates are Fed regional bank presidents. 

The most recent jobs report showed mediocre job creation in July.