Gold held a decline as comments from Federal Reserve officials over the weekend reinforced the view the US central bank will take a more cautious approach to cutting interest rates this year.

WASHINGTON (AP) — The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change. The Fed's membership has been criticized by Republicans in Congress.

U.S. inflation likely worsened last month on the back of higher prices for gas, eggs, and used cars, a trend that could make it less likely that the Federal Reserve will cut its key interest rate much

Federal Reserve governor Lisa Cook said Monday it makes sense to lower interest rates more gradually given resilience in the job market and stickier-than-expected inflation, the latest central bank official to offer a cautious view as 2025 begins.

The Fed has cut its main interest rate by a full percentage point since September. The intent is to give the economy breathing room after the Fed earlier hiked the federal funds rate to a two-decade high in hopes of slowing the economy enough to stifle inflation.

Almost all Federal Reserve officials agreed in their last meeting that "upside risks to the inflation outlook had increased" due in part to the "likely effects" of expected changes in trade and immigration policies.

A number of leading economists, including advisers to past U.S. presidents, have coalesced around the view that President-elect Donald Trump's plans to broaden tariffs, cut taxes and curb immigration may not prove as inflationary as early analysis had suggested.