With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves. Even if inflation continued declining to the Fed's 2% target,

By Howard Schneider WASHINGTON (Reuters) -Federal Reserve officials appeared divided at their meeting earlier this month over how much farther they may need to cut interest rates, but as a group agreed to avoid giving much guidance from here on about how U.

The Federal Reserve was expected to lower its key interest rate later that month, and Doolittle and his partner hoped the cut would drive down mortgage rates even further. The wait cost them.