Fed Minutes Show Most Officials Expect Additional Rate Cuts

Most Federal Reserve officials saw additional interest-rate reductions as appropriate so long as inflation declines over time, though they remained divided over when and how far to cut, a record of the central bank’s December meeting showed.

Minutes of the Dec. 9-10 Federal Open Market Committee gathering, released Tuesday in Washington, pointed to the difficulty policymakers faced in their most recent decision, which modestly reinforced expectations the Fed will hold rates unchanged when they meet again in January.