Federal Reserve officials signal cautious path for rate cuts amid still-high inflation.

Federal Reserve officials say they are likely to keep reducing interest rates for now, and investors still expect them to do so at the U.S. central bank's Dec. 17-18 meeting. But how far they will go beyond that remains a wide-open question,

Federal Reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace.

The Fed has lowered interest rates by a total of 75 basis points over its last two meetings, but further rate cuts may be sparse.

Minutes from the Federal Reserve’s November meeting may detail whether officials saw a greater risk of further softening in the U.S. labor market or stalling progress on lowering inflation. It could shed light on how likely a rate-cut pause may be at an upcoming Fed meeting.