The December FOMC minutes show concern that short-term funding stress can emerge quietly and trigger sudden volatility. The minutes outline steps aimed at preventing cash shortages before seasonal pressures intensify in early 2026.

Three FOMC members dissented, with two preferring to keep the rate unchanged and one favoring a 50-bp reduction. It was the first time in six years that three members objected to the majority decision.

Federal Reserve policy committee members need to see inflation fall further before they move to cut interest rates again, minutes from their December meeting showed.

The minutes of the previous US Fed FOMC meeting will be released on December 30 at 2:00 p.m. The next US Fed FOMC meeting is to be held on January 27 – 28, followed by a Press Conference by Chair Powell.

A nine-figure crypto trade was opened just hours before the Fed’s FOMC minutes. A large crypto trader has opened hundreds of millions of dollars in short positions across Bitcoin, Ether and Solana just hours before the release of closely watched Federal Reserve meeting minutes.

The Federal Reserve is on course for a serious shakeup in 2026 as President Trump seeks to replace chairman Jerome Powell at the end of the latter's term this May. On top of all this, the membership rotation for regional Fed bank presidents could lead to a more hawkish committee and division on policy votes next year.

The Federal Open Market Committee meeting minutes showed the decision was closer than the vote indicated, with "a few" voters suggesting they would have supported no change at the meeting.

"My base case is that we can stay here for some period of time," Cleveland Fed President Beth Hammack told the WSJ.

The Fed heads into 2026 divided over rate cuts as mixed economic signals and a new Trump-appointed chair test policy consensus.