The latest minutes from the Federal Reserve's September monetary policy meeting show that the divergence among decision-makers regarding the future interest rate path is increasingly intensifying. Although more than half of the 19 officials attending expect two more rate cuts before the end of the year, some officials are more cautious, believing that there may only be one rate cut or a status quo this year.

This internal divergence of views reflects the challenges faced by the Federal Reserve in formulating monetary policy. Although the voices supporting two rate cuts have a slight advantage, the intensification of differences may lead the Federal Reserve to adopt more moderate rate cuts in the remaining two meetings, potentially lowering by only 25 basis points each time.

Currently, the Federal Funds Intrerest Rate in the United States remains in the range of 4.00% to 4.25%. If the above expectations are met, the rate may only drop to the range of 3.50% to 3.75% by the end of the year, which may have limited effects on the U.S. economy facing downside risks.

It is worth noting that if the economic situation in the United States worsens further, the Federal Reserve may be forced to accelerate the pace of interest rate cuts. At that time, economic recession rather than inflation will become the main issue, and aggressive interest rate cut policies in this scenario may have a greater impact on the US and even the global economy.

This meeting summary highlights the difficult choices faced by the Federal Reserve in balancing economic growth and price stability. As economic data continues to fluctuate, the market will closely monitor the remarks of Federal Reserve officials and subsequent policy direction to assess future Intrerest Rate trends and potential economic impacts.