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Fed Officials Split on Where Interest Rates Should Go, Minutes Say
Fed officials disagree on interest rate direction; some support cuts if inflation drops, while others consider hikes if inflation stays above 2%, per January meeting minutes.
- Yesterday, Fed minutes showed officials kept interest rates on hold at the Jan. 27-28 meeting, maintaining the policy rate range at 3.50%-3.75%.
- Officials cited inflation pressures above the Fed's 2% inflation target and weighed fighting inflation against a stabilizing labor market, noting tariffs and AI-related productivity influences.
- Two governors, Fed Governors Christopher Waller and Stephen Miran, dissented by voting to cut while several participants sought a 'two-sided description' and the FOMC post-meeting statement language was adjusted.
- Futures traders are pricing the likeliest next cut in June, with the next Fed meeting, March 17-18, keeping the debate timely as holding rates affects mortgages and auto loans.
- With Powell's term ending in May, Kevin Warsh's nomination could shift the balance as analysts warn the committee split may deepen, complicating monetary policy.
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Minutes Reveal Fed Division Over Path of Interest Rates
Federal Reserve officials were divided at last month’s policy meeting over the path of interest rates, according to minutes released on Feb. 18. Although the Fed voted 10–2 to leave interest rates unchanged—Fed board members Christopher Waller and Stephen Miran preferred a quarter-point rate cut—members expressed divergence on where the benchmark federal funds rate is headed. The division reflects that one side is continuing to fight inflation a…
·New York, United States
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Associated Press News+40 Reposted by 40 other sources
Fed minutes: Lower inflation needed before many officials will support rate cuts
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.
·United States
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Coverage Details
Total News Sources60
Leaning Left7Leaning Right5Center34Last UpdatedBias Distribution74% Center
Bias Distribution
- 74% of the sources are Center
74% Center
15%
C 74%
11%
Factuality
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