Fed Minutes Reveal Deep Divide on Rate Cuts as Data Drought Clouds December Decision
Federal Reserve minutes from the October 28–29 meeting show a 10–2 vote to cut the federal funds rate to 3.75%–4.00%, with sharp divisions among policymakers. Uncertainty over a December rate cut has surged, dropping market odds from near certainty to about 50%. The Fed will halt balance-sheet runoff on December 1. Inflation remains above target, and job growth has slowed.