Two Fed Officials Express Concerns Over Inflation Amid Rate Cut Vote

Federal Reserve officials Austan Goolsbee and Jeffrey Schmid dissented against the interest rate cut, citing inflation concerns and the lack of recent data. Goolsbee said waiting for more data would have been prudent, while Schmid advocated for holding the policy rate steady. The Fed lowered the benchmark interest rate to the 3.50%-3.75% range, and officials await more inflation and job market data.