is “pretty much in line with our expectations”, but reiterated it won’t be appropriate to lower rates until officials are confident inflation is on track toward their 2 per cent goal.
Fed officials held short-term interest rates at a more than two-decade high when they met earlier this month, and a narrow majority penciled in three rate cuts for 2024.. But he and other policymakers have made clear they’re in no rush given the underlying strength of the economy and recent signs of persistent price pressures.Inflation has eased substantially from a 40-year peak reached in 2022, decelerating at a particularly fast clip last year.
Source: Loan Digest (loandigest.net)
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