At its December meeting, the Federal Reserve held interest rates steady, with most officials favoring a quarter-point cut. However, some expressed concerns over lingering inflation risks, leading them to prefer holding rates unchanged. The minutes of the meeting, released Wednesday, showed that officials projected inflation to gradually approach the Fed's 2% target. However, they acknowledged that the Trump administration's trade and immigration policies could potentially hinder this progress. The central bank also signaled a readiness to shift to a more neutral policy stance if incoming data supported their outlook. This could mean slower or smaller rate hikes in the future.