The Fed's December Meeting Minutes to Be Released Tonight, Revealing Decision-Makers' Divergence Details
BlockBeats News, on December 31, at 3 a.m. Beijing time on Wednesday, will release the minutes of the Federal Reserve's December 9-10 policy meeting, revealing details of the escalating internal divisions within the decision-making body. Under the dual pressures of inflation and employment, the Fed's next steps appear increasingly unclear.
The Fed's decision to cut rates by 25 basis points in December sparked three dissenting votes—two from regional Fed presidents who believed a rate cut was unnecessary and one from Fed Governor Brainard. Since joining the Fed in September, Brainard has now become the lone voice advocating for a larger 50 basis point cut for the third time. Fed Chair Powell stated after the meeting that there were "strong differences of opinion" regarding which of the two risks required more policy attention. Looking into next year, there is even greater disagreement among policymakers on the direction of rates, with some believing that no rate cut is appropriate. Among the Fed's 19 policymakers, 6 see a year-end 2025 rate of 3.9% as appropriate, a level higher than the post-cut rate.
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