Recent minutes from the Federal Reserve revealed significant division among officials regarding the size of the interest rate cut in September. While a 'substantial majority' favored a large cut, some members supported a more gradual approach with a 25 basis point reduction. The discussions reflected concerns about inflation risks and economic stability, indicating that the decision was not straightforward. Many members argued against a half-point cut, emphasizing a cautious stance moving forward. As traders digest the implications of these debates, the financial markets remain relatively steady amidst uncertainty about future monetary policies.