Meeting minutes highlight Federal Reserve divergence: "Many" officials disapprove of further rate cuts in December.

Minutes from the meeting of the Federal Open Market Committee on October 28-29 showed that many Fed officials believed that maintaining interest rates unchanged in the remaining time of 2025 "might be appropriate." The minutes, released on Wednesday, also indicated that "several" decision-makers opposed another rate cut in December. The minutes stated, "Many participants believed that, based on their outlook for the economy, maintaining the target range for the federal funds rate unchanged for the remainder of the year might be the appropriate action." However, some officials also pointed out that if the economic performance aligns with expectations, another rate cut in December "is likely to be appropriate." The minutes highlighted differing views within the Fed regarding which poses a greater threat to the U.S. economy, inflation or unemployment, adding to the uncertainty surrounding the rate decision in December.