Fed officials deeply divided over future rate cuts, need to see big drop in inflation: meeting minutes

Many Federal Reserve officials want to see inflation fall further before they would support additional interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month’s meeting show.The “vast majority” of the 19 participants on the Fed’s rate-setting committee said that there were signs the job market has stabilized, after the unemployment rate rose in late 2025, the minutes said. And most of the officials agreed that the Fed’s key rate is close to a level that nei ...