Federal Reserve minutes from the December meeting revealed a significant policy divide among officials regarding interest rate cuts. While a 9-3 vote supported a quarter-point reduction, some favored holding rates steady to assess economic progress, while others advocated for gradual cuts. Projections indicated one rate cut in 2026 and potentially another in 2027. Mixed economic data, including strong GDP growth but cautious hiring, alongside inflation above the Fed's target, contributed to the differing views. New voting members may also influence future decisions.