A majority of Federal Reserve policymakers expressed support in late October for further interest rate cuts, though not all committed to making the reduction at their next meeting in December, according to minutes released Wednesday.
At the same time, many officials said “it would likely be appropriate” to keep rates “unchanged for the rest of the year," a sign of strong divisions among policymakers about the central bank's next steps.
Rate cuts by the Fed, over time, typically lower borrowing costs for mortgages, car loans, and credit cards.
