When the Federal Reserve cut interest rates in September for the first time this year, the decision appeared near-unanimous: 11 members voted for the quarter-point reduction, with only one dissent.
But minutes from that pivotal Sept. 16-17 meeting, released Wednesday, reveal a central bank far more divided than the lopsided vote suggested. They show a central bank torn between members who see inflation as largely vanquished and those who believe the fight has “stalled,” and split on whether the economy needs a gentle policy adjustment or aggressive stimulus.
The disagreements raise questions about the Fed’s ability to navigate what officials…
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