Fed Officials Divided on Rate Cuts After Jerome Powell Cites Stability

Federal Reserve officials are divided on future interest rate cuts following their January meeting where the benchmark rate was held at 3.50% to 3.75%.Jerome Powell and Michael Barr noted a stabilizing labor market with 130,000 new jobs and 4.3% unemployment, despite pressure from Donald Trump to lower rates to 1%.While Austan Goolsbee suggested several more cuts are possible if inflation reaches the 2% target, markets currently expect no change at the next policy meeting.