Federal Reserve officials are divided on the economy’s status and the risks it faces, with conflicting views intensifying before the next policy meeting due to the government shutdown. Fed Governor Cook sees a live meeting for a possible rate cut due to risks to employment and inflation mandates.

A sharp split within the Fed is evident as policymakers express differing views on rate cuts, with some advocating for deeper cuts despite buoyant stock and credit markets. Dissent among officials emerged at the October meeting, with Chair Powell highlighting a deep divide ahead of the December meeting.

Chicago Fed President Goolsbee is cautious about further rate cuts as inflation exceeds the 2% target. San Francisco Fed chief Daly supports last week’s cut as “insurance” against labor market weakening. Kansas City Fed President Schmid favors focusing on inflation and notes that high equity prices do not indicate tight financial conditions.

Fed officials like Governor Waller suggest room for further rate cuts to stimulate the economy, but views remain contested. Some, like Cleveland Fed President Hammack, believe the current policy is barely restrictive. The debate will continue leading up to the December meeting.

Read more at Yahoo Finance: Divided Fed policymakers stake out positions ahead of December meeting