Fed Signals End to Big Rate Hikes But Cautions Against Expecting Cuts Soon
• Fed officials signal end of aggressive interest rate hikes but won't rush to cut rates soon • Powell pushes back on expectations of rate cuts starting in March, wants more data showing inflation is sustainably falling • Market odds of a March rate cut fell after Powell said it's unlikely Fed will be confident enough by then to cut • Fed concerned about making a policy mistake and wants to be patient before cutting rates • Timing of first rate cut pushed back to May at earliest among economists