A few Federal Reserve officials saw a case in keeping interest rates on hold last month, according to minutes from the central bank's policy meeting released on Wednesday.

Why it matters: It shows larger divisions among Fed officials than previously known at the most recent policy meeting, which concluded with the first rate cut in nearly a year.

What they're saying: "A few participants stated there was merit in keeping the federal funds rate unchanged at this meeting or that they could have supported such a decision," according to the minutes from the Sept. 16-17 meeting. • Still, the minutes showed that "almost all" Fed officials supported the rate cut. Meanwhile, "most" said it would likely be appropriate for further rate cuts "over the remainder of the year."

The other side: The m

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