⁍ U.S. Federal Reserve policymakers split over how to apply a new strategy for monetary policy at their September meeting.

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⁍ U.S. central bankers agreed unanimously in August on a broad new approach to monetary policy.

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⁍ The Fed adopted that approach in September with promises to keep interest rates near zero until its 2% inflation target and full employment are reached.

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– In August, the Federal Reserve agreed to a new approach to monetary policy, and “most participants supported providing more explicit outcome-based forward guidance for the federal funds rate,” according to the minutes from its Sept. 15-16 meeting, per Reuters. The Sept. 15 meeting, however, “discussed a range of issues associated with providing greater clarity” about the Fed’s plans, the minutes state. Specifically, some officials wanted to see the Fed promise to push inflation above 2%, while others wanted to see the Fed promise to keep interest rates near zero until full employment and inflation are reached. The Sept. 15 meeting was the Fed’s first since new Chair Jerome Powell took the helm, and the Sept. 15 meeting was also the Fed’s first since August’s unanimous decision to keep interest rates near zero until its 2% inflation target and full employment target are reached. The Sept. 15 meeting was also the Fed’s first since August’s unanimous decision to keep interest rates near zero until full employment and inflation are reached. The Sept. 15 meeting was also the Fed’s first since August’s unanimous decision to keep interest rates near zero until full employment and inflation are reached. The Sept. 15 meeting was also the Fed’s first since August’s unanimous decision to keep interest rates near zero until full employment and inflation are reached. The Sept. 15 meeting was also the Fed’s first since August’s unanimous decision to keep interest rates near zero until full employment and inflation is reached.