Federal Reserve October meeting minutes: Internal divisions escalate, data shortages worsen uncertainty, December rate cut expectations plummet rapidly.

The Chinese financial app Zhitong Finance learned that the latest minutes of the October FOMC meeting released by the Federal Reserve show a rare depth of disagreement among decision-makers on whether to continue cutting interest rates. The discussion focused on inflation risks, cooling labor market, and the divergence between economic growth and financial environment, presenting a situation of multiple uncertainties. Although the Federal Reserve eventually voted 10-2 to cut interest rates by 25 basis points, bringing the federal funds rate range to 3.75% to 4%, the minutes indicate that this decision was reached under intense debate and barely reached a consensus, and the prospect of another rate cut in December is becoming increasingly uncertain.