Minutes from the Federal Reserve’s December meeting show a sharp division among policymakers over how much further to cut interest rates and when to do it as they weigh rising unemployment against elevated inflation. The record of the meeting highlighted Chair Jerome H. Powell’s challenge in building consensus

Minutes from the Federal Reserve’s December meeting show officials sharply divided over the timing and size of any further interest-rate cuts as they weigh rising unemployment against persistent inflation. Members were uncertain how restrictive policy is with the federal funds rate at 3.5 percent to 3.75 percent,