Fed officials divided over December rate cut, meeting minutes show

Minutes from the Federal Reserve’s December meeting, released Tuesday, showed a divide among policymakers over whether to pause further interest rate cuts following the latest reduction, even as most officials said additional easing could be appropriate if inflation declines as expected. The Federal Open Market Committee (FOMC) cut the federal funds rate by 25 basis points at its December 9 to 10 meeting, setting the target range at 3.5% to 3.75%.