Members of the Federal Reserve’s policy-setting committee expressed “strongly differing views” over whether to cut interest rates next month, according to minutes of the central bank’s October meeting.
Fed policymakers were deeply divided on the need for a third rate cut this year, according to a record of their most recent meeting released on Wednesday, underlining the deepening schism over borrowing costs.
“In discussing the near-term course of monetary policy, participants expressed strongly differing views about what policy decision would most likely be appropriate at the committee’s December meeting,” the Federal Open Market Committee minutes said.
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