Federal Reserve officials have expressed concerns about the risks of higher inflation, which has led to a cautious approach regarding further rate cuts. According to the minutes from the Fed’s recent meeting, there is a preference for pausing rate cuts until there is clearer evidence of inflation moving towards the central bank’s target. The minutes also highlighted a potential disconnect between the Federal Open Market Committee’s (FOMC) expectations and market predictions for interest rates in the coming year. Following the release of these minutes, gold prices saw a decline as the market reacted to the more hawkish tone. — news from The Wall Street Journal