The Federal Reserve meeting minutes cautiously imply further rate cuts this year.

ChainThink report, October 9, the divergence among Federal Reserve officials on the future direction of interest rates is growing, but most believe it is necessary to cut interest rates further this year. The minutes from the Federal Reserve's September meeting showed that the committee is struggling to deal with conflicting economic signals and has not reached a consensus on whether stubborn inflation or a weak labor market is the more pressing issue.

The minutes showed that Federal Reserve officials unanimously agreed that, given recent weak employment data, it is necessary to cut interest rates once, but there was a divergence among officials on the future path. However, the minutes stated that "most believed that further policy easing may be appropriate for the rest of the year." Nevertheless, some policymakers "noted that from several indicators, financial conditions suggest that monetary policy is not particularly restrictive, and they believe it is necessary to take a cautious approach."

According to the forecasts from September, ten Federal Reserve officials indicated that they expect to cut interest rates two more times this year, while nine believed that one or fewer rate cuts would be appropriate.