Policymakers signal no rush to lower rates, minutes show

Federal Reserve officials showed little interest in cutting rates at last month’s meeting, with most saying they want clearer progress on inflation before easing—a process that could take months, indicating that the borrowing rates might stay where they are for a while.

Minutes from the January 27–28 meeting show two officials dissented in favor of a cut, while others would have preferred more neutral language suggesting rate hikes or cuts were equally possible.

Some said they would have supported revising the post-meeting statement to acknowledge that further increases could be warranted if inflation remains above target.