Fed minutes highlight divisions over rate cut decision …C0NTINUE READING HERE >>>
The Fed voted to cut rates by 50 basis points last month.
Photo: Mandel NGAN / AFP
Source: AFP
The US Federal Reserve’s rate-setting committee was divided during interest rate deliberations last month, although most members ultimately voted for a half percentage-point cut, according to minutes of the meeting published Wednesday.
Policymakers voted 11-to-1 in favor of the larger cut to boost demand and bolster the labor market amid signs inflation was falling toward the bank’s long-term two percent target, with Fed governor Michelle Bowman the only voting member of the committee to…
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