MNI BRIEF: Powell Says Fed Strongly Divided On Dec Rate Cut

Federal Reserve Chair Jerome Powell said Wednesday the central bank is divided about whether to keep cutting interest rates at its December meeting.

"There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a forgone conclusion. Far from it. Policy is not on a preset course," he told reporters in the opening statement of his press conference. (See MNI INTERVIEW: Case For Dec Fed Cut Uncertain -Lockhart)