Fed Moving Closer to Rate Cuts in 2024 to Fight Inflation, Seeks More Evidence of Slowing Price Rises

Fed officials moving closer to cutting interest rates to fight inflation, needing "a bit more evidence" inflation is declining
Fed widely expected to hold rates steady at March meeting; focus will be on officials' forecasts for future rate cuts
Policymakers to signal rate cuts likely coming in 2024 if inflation continues slowing as expected
Jobs report showed solid hiring but early signs of slowing wage growth and higher unemployment
Balance sheet reduction discussions to begin but no decision on tapering asset runoff expected yet