The Federal Open Market Committee is highly likely to hold interest rates at their current level at their next meeting, but cuts later in 2025 remain on the table.

The minutes from the Federal Reserve’s last meeting of 2024 will add further context to officials’ thinking about the paths of the economy, interest rates, and inflation in the coming years. Policymakers lowered their interest-rate target after their Dec.

Almost all” Fed officials judged that the upside risks to inflation had increased, according to minutes of the Fed’s December meeting released Wednesday.