Fed officials were divided on whether to cut rates by half a point in September, minutes show
- Federal Reserve officials cut interest rates by half a percentage point in September, balancing inflation confidence with labor market concerns, as per the released minutes.
- The decision marked the first jumbo rate cut in over four years, with officials divided on the economic outlook.
- Only Governor Michelle Bowman opposed the cut, preferring a quarter-point reduction, indicating differing views among the committee members.
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