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Minutes from the Federal Reserve's last meeting reveal a majority favored further interest rate reductions this year, citing increased unemployment risk and diminishing inflation concerns. The committee cut rates by a quarter-point, its first reduction this year. However, divisions persist regarding the appropriate level of rates, with some officials wary of persistent inflation above the 2% target. Dissenting views highlighted the complex economic landscape and uncertainty surrounding future policy decisions.

Prepared by Christopher Adams and reviewed by editorial team.