Minutes of latest Federal Reserve meeting reveal deep divide over interest rates

In an unusual turn, the central bank's board debated over monetary policy before the latest quarter-point cut

The US Federal Reserve agreed to cut interest rates at its December meeting only after a deeply nuanced debate about the risks facing the US economy right now, according to minutes of the latest two-day session.

Even some of those who supported the rate cut acknowledged the decision was finely balanced or that they could have supported keeping the target range unchanged", given the different risks facing the US economy, according to the minutes released on Tuesday.