Fed Officials Cautious on Rate Cuts, Want More Evidence of Falling Inflation Before Lowering Rates

• Fed officials are pushing back against near-term interest rate cuts, wanting more evidence that inflation is falling before lowering rates.

• Recent economic data has been stronger than expected, adding to the case for patience before cutting rates.

• Policymakers face uncertainty with no clear historical precedent to guide rate decisions in the current environment.

• The Fed doesn't yet see a clear reason to justify starting rate cuts or how to properly calibrate them.

• With conflicting expert opinions and no past episode as a guide, Fed officials are relying more on art and intuition in policymaking.