Federal Reserve officials diverged at their June meeting about how aggressively they would be willing to cut interest rates, split between concerns over tariff-fueled inflation and signs of labor mark

The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.

Officials voted unanimously at their last meeting to keep rates unchanged at a range between 4.25 percent and 4.50 percent. But even as they penciled in two rate cuts this year, seven of 19 policymakers projected no reductions at all in 2025.