At the meeting of the Fed's monetary policy committee (FOMC) in the middle of September, a decision was made to lower the interest rate by 0.25 percentage points to the interval 4.0–4.25 percent.
"Most judged that it would likely be appropriate to ease monetary policy further during the rest of the year", it says in the minutes from the meeting, which was made public on Wednesday.
The meeting minutes also showed that a majority of the participants "emphasized upside risks to their inflation outlook”.
"Some participants stated that there were advantages to keeping the interest rate unchanged at this meeting or that they could have supported such a decision", according to the minutes.
The meeting noted that the risks to the labor market had increased, but many also believed that a rapid decline in employment was unlikely.
The Fed was almost unanimous in its decision to lower by 0.25 percentage points. Only the recently appointed member Stephen Miran, who was nominated by US President Donald Trump, wanted a double reduction.
