Fed October Minutes Show Sharp Division on Rate Cut Amid Stalled Inflation Progress

The Federal Reserve's October policy meeting minutes disclosed significant internal disagreement over the decision to cut interest rates, Jin10 reports. While many participants supported lowering the federal funds rate target range, several officials opposed the move, citing concerns that progress toward the 2% inflation target had stalled and warning that prolonged elevated inflation could lift long-term expectations. Most participants indicated further policy rate reductions might heighten risks of persistent inflation or signal a weakened commitment to the 2% target. Officials also cautioned that a sharp reassessment of AI investment could trigger disorderly stock market declines.