St. Louis Fed president Alberto Musalem said Thursday he is undecided about whether tariff inflation will be a one-time increase or longer lasting, underscoring the uncertainty about what direction the central bank will move in the coming months.

Minutes from the Fed’s June policy meeting tease at a looming split over whether and when officials will resume rate cuts.

Bloomberg's Stuart Paul reacts to Fed minutes and breaks down the divide between federal reserve officials on the potential inflationary impact of tariffs as the committee weighs its path forward. (So