Balanced News: Fed gave no indication of possible rate cuts at last meeting, minutes show

The minutes from the Federal Reserve’s most recent meeting showed that officials expressed little interest in cutting interest rates anytime soon, as inflation remains above their target. They believe policy needs to stay “restrictive” until inflation returns to the central bank’s 2 percent goal. While the market expects rate cuts in the future, the minutes gave no indication that members discussed when they might start lowering rates. The meeting also addressed rising Treasury yields and expectations of slower economic growth in the fourth quarter.