Fed officials were divided on whether to cut rates by half a point in September, minutes show

Federal Reserve officials approved a 50 basis point interest rate cut at their September meeting to address concerns over the labor market and inflation, with only one member dissenting. Economic indicators since the meeting have shown a stronger labor market than expected, leading to expectations of future cuts being less aggressive. The decision to cut rates was described as a “recalibration” to align policy with recent economic indicators and promote sustained economic strength.

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