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Divided Fed officials saw another two interest rate cuts by the end of 2025, minutes show
About half of Federal Reserve officials expect two interest rate cuts by end of 2025 due to economic and inflation outlook, signaling potential monetary policy easing.
- On Wednesday, Federal Reserve minutes showed a few officials saw a case to keep interest rates on hold last month, revealing larger divisions at the Sept. 16-17 meeting.
- Cracks in the labor market prompted concern as participants said progress toward the Federal Reserve's 2 percent inflation objective had stalled this year with rising inflation readings.
- The decision to cut by a quarter point last month was not unanimous, and Fed governor Stephen Miran dissented in favor of a half point cut after his confirmation two days earlier.
- Most participants said further rate cuts would likely be appropriate over the remainder of the year, while officials fretted that Americans' inflation expectations could remain elevated.
- Several participants warned that artificial intelligence adoption may reduce labor demand, while financial conditions suggested monetary policy may not be particularly restrictive, prompting caution.
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Associated Press News+2 Reposted by 2 other sources
Fed minutes: Most officials supported further rate cuts as worries about jobs rose
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
·United States
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Coverage Details
Total News Sources7
Leaning Left3Leaning Right0Center4Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 43%
C 57%
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