Markets widely expect the Federal Reserve to cut interest rates for the fourth time this year at its December meeting. The question is what the central bank will do next year. Recent sticky inflation prints and evidence the US economy is growing at a solid pace have raised doubts that the Fed will bring down rates as quickly as it previously

Powell just a week after the meeting said the economy was "not sending any signals that we need to be in a hurry to lower rates."

The account of the central bank’s Nov. 6-7 meeting, released on Tuesday, showed that Fed officials still planned to cut interest rates further. But with the job market holding up better than expected and the economy growing at a solid clip, they are in no rush to slash them rapidly.

Despite inflation in some sectors remaining outside the Federal Reserve's benchmark of 2%, officials indicated they are pleased with the current easing of interest rates, and more gradual cuts may follow.

Federal Reserve officials signal cautious path for rate cuts amid still-high inflation. 24/7 coverage of breaking news and live events

Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace.

Minutes from the Federal Reserve’s November meeting may detail whether officials saw a greater risk of further softening in the U.S. labor market or stalling progress on lowering inflation. It could shed light on how likely a rate-cut pause may be at an upcoming Fed meeting.