Posted 1/4/2024, 3:46:25 PM
Fed Minutes Show Rate Cuts Possible in 2023 If Inflation Continues to Ease
- Officials believe interest rates are at or near peak for current rate tightening cycle
- Almost all participants felt rates could end 2024 lower given progress on inflation
- Clear progress has been made on inflation, but more evidence needed that it's moving toward 2% target
- Rates possibly moving lower this year, but significant uncertainty around forecast
- Need to see sustained declines in inflation and softening labor market to trigger rate cuts