2 Federal Reserve officials oppose an interest rate cut in December

WASHINGTON (AP) — Two Federal Reserve officials expressed opposition Wednesday to another interest rate cut at the central bank’s next meeting in December, further muddying the outlook for the Fed’s next steps.

The remarks by Susan Collins, president of the Federal Reserve Bank of Boston, and Raphael Bostic, president of the Atlanta Fed, suggest that the central bank’s rate-setting committee could be tilting against what had been an expected third straight cut next month.

The officials cited several reasons for keeping rates unchanged, after a reduction in September and in October. They argued that inflation is stubbornly elevated and has been above the Fed’s 2% target for nearly five years, while the economy is resilient and doesn’t appear to need more rate cuts. The job market is stumb