Minutes from the Federal Reserve’s October meeting revealed a growing divide over the path of monetary policy, including next month’s interest rate decision.
While many meeting participants supported the central bank’s decision to lower the federal funds rate by a quarter point for the second straight meeting last month, some officials said they could have endorsed no change.
“Against this backdrop, many participants were in favor of lowering the target range for the federal funds rate at this meeting, some supported such a decision but could have also supported maintaining the level of the target range, and several were against lowering the target range,” the meeting minutes, released on Nov. 19, read….