Fed Sees Rates Staying High for Some Time With Cuts Eyed in 2024
- Policymakers remain open to hiking again if appropriate
- Minutes cite optimism on inflation, ‘clear progress’
The Marriner S. Eccles Federal Reserve building in Washington, DC.
Photographer: Valerie Plesch/BloombergThis article is for subscribers only.
Federal Reserve policymakers agreed last month that it would be appropriate to maintain a restrictive stance “for some time,” while acknowledging they were probably at the peak rate and would begin cutting in 2024.
“Participants viewed the policy rate as likely at or near its peak for this tightening cycle,” according to the minutes of the Dec. 12-13 Federal Open Market Committee meeting released Wednesday.