Posted 1/3/2024, 7:20:00 PM
Fed Signals Interest Rates Nearing Peak But Remains Cautious on Timing of Rate Cuts
- Fed minutes show officials believe interest rates are "at or near" peak levels, but offered few clues on timing of rate cuts
- Officials noted progress on lowering inflation, no longer describing it as "unacceptably high"
- Minutes cited declining inflation readings in 2023 as evidence policies are working
- Debate underway on balancing inflation reduction with safeguarding the economy
- High uncertainty remains on economic outlook and future policy moves