Fed minutes reveal split on rate path: holding cuts for now, with hikes on the table if inflation persists

Minutes from the January FOMC show a divided committee: most officials favored pausing further rate cuts for now unless inflation clearly slows, while some floated the possibility of hikes if inflation remains above target; the statement was adjusted to reflect a more balanced outlook, and markets price in a potential June cut followed by another move later in the year if disinflation proceeds and labor markets stay resilient.