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US Fed policymakers remain split ahead of December rate decision

Fed officials are divided on a December rate cut as inflation remains elevated and the economy holds up.
Minutes released on 19 November 2025 show that many members of the Federal Reserve were opposed to a rate cut in December, citing persistent inflation and employment strength. Some doves welcomed cuts, but the majority remained cautious, warning that prematurely lowering rates could undermine the inflation fight.
Markets had priced in a near-certain cut, but the internal division now creates uncertainty ahead of the next meeting and has prompted traders to re-evaluate short-term rate-cut bets.