WASHINGTON — Federal Reserve officials do not plan to cut interest rates again unless economic data begins to show cracks, a message reinforced by the minutes from their October meeting.
After the Fed cut interest rates last month — its third reduction this year — most officials thought that policy “would be well calibrated” to support the economy, according to the minutes, unless something were to cause “a material reassessment” of the outlook.
A “couple” of officials even thought that the Fed should make it clear that another rate cut was unlikely “unless incoming information was consistent with a significant slowdown in the pace of economic activity.”...