Fed Minutes Show ‘Many’ Officials Lean Against December Cut (1)

Many Federal Reserve officials said it would likely be appropriate to keep interest rates steady for the remainder of 2025, according to minutes of the Federal Open Market Committee’s October 28-29 meeting.

The record of the meeting, released Wednesday in Washington, also showed “several” policymakers were against lowering the Fed’s benchmark rate at that gathering.

“Many participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for the rest of the year,” the minutes said.

Still, “several participants” said another cut “could well be appropriate in December if the economy evolved ...