Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question

There was a general sense among most Federal Reserve officials that interest rates could be lowered by the end of the year, minutes of the Fed’s June 17-18 meeting showed.

The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.