But minutes from their December meeting suggest that the decision was a close call — and that there is no guarantee policymakers will lower rates again anytime soon. The minutes of the central bank’s Dec.

St. Louis Fed President Alberto Musalem suggests greater caution is warranted on reducing interest rates.

Federal Reserve officials in December signaled concerns that President-elect Donald Trump’s policies could stoke inflation, contributing to a more cautious approach to interest rate cuts this year and even a pause this month.