The Globe and Mail reports in its Thursday edition that many Federal Reserve officials want to see further declines in inflation before supporting more interest-rate cuts, especially if the job market stabilizes. An Associated Press dispatch to The Globe reports that minutes from last month's meeting show that a "vast majority" of the 19 members noted signs of job market stabilization following a rise in unemployment in late 2025. Most agreed that the Fed's key rate is near a neutral level for the economy. The minutes were released three weeks after the Fed's Jan. 27-28 meeting. Fed officials at that meeting agreed to keep its key rate steady at about 3.6 per cent, after cutting it three times late last year. Two officials -- Fed governors Stephen Miran and Christopher Waller -- voted instead to cut another quarter point. The minutes show a divided committee with varying opinions: Some officials said that additional cuts might be needed if inflation declines, while others preferred to keep rates unchanged for an extended period. Additionally, some officials supported language in the meeting statement suggesting that the next Fed move could be either a cut or a hike if inflation stays above the 2-per-cent target.