The Globe and Mail reports in its Wednesday, Nov. 27, edition that U.S. Federal Reserve officials were divided at their recent meeting on the need for further interest rate cuts but agreed to limit guidance on future monetary policy. A Reuters dispatch to The Globe reports that minutes from the Nov. 6-7 meeting revealed uncertainty about the economy's direction and the impact of current interest rates, leading to a cautious approach. The minutes, which were released on Tuesday, said, "Many participants observed that uncertainties concerning the level of the neutral rate of interest complicated the assessment of the degree of restrictiveness of monetary policy and, in their view, made it appropriate to reduce policy restraint gradually." The neutral interest rate is the level at which economic activity is neither stimulated nor restrained. The minutes stated, referring to the Fed's policy-setting committee: "Participants noted that monetary policy decisions were not on a pre-set course and were conditional on the evolution of the economy and the implications for the economic outlook. ... They stressed that it would be important for the [Federal Open Market] Committee to make this clear as it adjusted its policy stance."