The minutes of the Federal Reserve's January meeting revealed policymakers considered language about possible rate hikes amid concerns over elevated inflation.

Many Federal Reserve officials want to see inflation fall further before they would support additional interest rate cuts this year, particularly if the job market continues to stabilize, minutes of l

Fed policymakers were in near-unanimous agreement to keep interest rates on hold at their meeting last month, but remained split over their next steps. The full table grappled with the emerging implications of AI for the economy.

Key Takeaways Federal Reserve officials signaled that additional rate cuts are still possible this year, but January’s meeting minutes revealed growing concern about easing policy while inflation remains above 2%.

Many Federal Reserve officials want to see inflation fall further before they would support additional interest rate cuts this year, particularly if the job market continues to stabilize, minutes of last month’s meeting show.