Federal Reserve officials said they expect to move more carefully on future interest-rate cuts as inflation remains stubborn and the labor market holds up better than many had expected, according to minutes from the central bank’s latest policy meeting released Monday.

The record shows policymakers were not ready to commit to a rapid easing cycle. Instead, they weighed the risk that cutting too quickly could allow price pressures to linger, even as some parts of the economy continue to cool. A resilient job market gave officials more room to wait for clearer evidence that inflation is easing sustainably.

The minutes suggest a continued divide between the desire to support growth and the need to keep inflation on a downward path. For households and businesses, that likely means borrowing costs may stay elevated longer than some had hoped, affecting mortgages, credit cards, and business lending.

Markets often scrutinize Fed minutes for clues about the timing and pace of policy changes, and this release reinforces a cautious approach. Unless inflation data improves more decisively, the central bank appears inclined to keep its options open rather than signal an aggressive series of cuts.