US Fed was divided on rate cut, wanted to avoid appearing on path for more cuts

The comments on Wednesday by Trump, who has repeatedly criticized the Federal Reserve's policies, come as he seeks to downplay worries that a trade war between the United States and China could weigh on the U.S. economy and trigger a possible recession before the November 2020 presidential election.

WASHINGTON: Federal Reserve policymakers were deeply divided over whether to cut interest rates last month but were united in wanting to signal they were not on a preset path to more cuts, a message not likely to sit well with U.S. President Donald Trump.

Minutes from the two-day meeting released on Wednesday showed policymakers' ultimate decision to lower the central bank's benchmark interest rate by a quarter percentage point drew more opposition than was reflected in the rate-setting panel's 8-2 vote, announced after the meeting adjourned on July 31.