Today November 19, 2025, 07:09 PM
Today November 19, 2025, 07:09 PM
By CHRISTOPHER RUGABER, Associated Press
WASHINGTON (AP) â A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to minutes released Wednesday.
At the same time, many officials said âit would likely be appropriateâ to keep rates âunchanged for the rest of the year,â a sign of strong divisions among policymakers about the central bankâs next steps.
Rate cuts by the Fed, over time, typically lower borrowing costs for mortgages, car loans, and credit cards.
Chair Jerome Powell had telegraphed the deep divisions among the Fedâs 19-member interest-rate setting committee at a news conference following the Oct. 28-29 meeting. The minutes were released after the customary three-week delay.
âParticipants expressed strongly differing viewsâ about whether the Fed should cut at its December 9-10 meeting, the minutes said.
The central bank decided to cut its key rate to about 3.9% at the late October meeting, down from 4.1% and the second cut this year. In September, the Fed projected it would reduce rates three times this year, in September, October, and December.
