The Federal Reserve cut interest rates by a quarter point Wednesday, its first reduction this year, as the economy showed signs of slowing and inflation remained elevated.

A majority of Fed officials expect to cut at least two more times this year, one more than they did a few months ago. But in a sign that the Fed is increasingly divided on the path forward, more policymakers signaled they have doubts about whether additional cuts are warranted at all this year.

“Uncertainty about the economic outlook remains elevated,” according to the statement released by the Fed announcing the interest rate cut.

The newest appointee to the Fed board, Stephen Miran, a top economic adviser to President Donald Trump, was the only Fed official to dissent, favoring a larger rate cut.

Wednesday’s well-t

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