Donald Trump’s rate-cut wish may finally be inching closer, as Fed meeting notes reveal a ‘master class’ in indecision

• Analysis: Fed meeting minutes reveal growing divisions among policymakers, with several officials signaling openness to a rate cut this year amid modest inflation pressures and tariff uncertainties, while others favor maintaining the current stance. Analysts such as UBS’s Paul Donovan label this cautious approach “masterful inactivity,” underscoring the Fed’s internal debate amid lingering economic ambiguities.

President Trump may finally be gaining some allies in his battle to bring down the base rate...