Fed Pauses Rate Hikes, Hints at Possible Cuts in 2023 as Inflation Cools Slightly
- Fed holds off on further rate hikes, indicates potential cuts in 2023
- Inflation slowing but still high at 3.1% annually, 4% for core inflation
- Fed predicts rates falling to 4.6% by end of 2024 and 2.9% by end of 2026
- Declining mortgage rates create optimism for struggling housing market
- Homeowners with high-rate mortgages could benefit from refinancing if rates drop