Fed Official Says Central Bank Isn’t ‘Really Talking About Rate Cuts’

Federal Reserve officials offered competing views Friday of when they might begin to lower interest rates next year after Chair Jerome Powell suggested they were likely done raising them.

One of Powell’s senior lieutenants said Friday that central-bank officials weren’t actively debating when to cut rates at their policy meeting this week, an apparent effort to temper markets’ exuberant interpretation of the chair’s comments at a news conference Wednesday.