Federal Reserve officials voted to cut interest rates at the September policy meeting, but according to new minutes, some were uncertain how aggressive they should be in kicking off the easing cycle.
The Fed lowered the benchmark federal funds rate by a super-sized 50 basis points, to a range of 4.75 to 5.0 percent. This was the first rate cut in more than four years. Fed Board member Michelle Bowman was the lone dissenting vote, advocating a quarter-point cut instead.
