Federal Reserve officials remain cautious about inflation while agreeing to cut interest rates

On October 9, some senior Federal Reserve officials were more inclined to keep interest rates unchanged last month, highlighting policymakers' concerns that high inflation still poses a threat to the U.S. economy. Despite the Fed's 25 basis point rate cut in September, Fed meeting notes show that < b > a "minority" of FOMC members would have supported keeping rates unchanged because inflation is likely to remain above target. Meeting notes that < b > rising inflation this year has "stalled" progress towards the 2% target , adding that a few < b > members are "concerned that long-term inflation expectations could rise if inflation does not return to target in time ".