Fed officials discussed rate cuts last month and hinted at end of hikes, minutes show
Washington, DC (CNN) — Federal Reserve officials during their December policy meeting broached the subject of reducing interest rates, minutes from that meeting released Wednesday showed.
Posted — UpdatedOfficials’ latest economic projections released in December showed that they expect to cut rates this year for the first time since kicking off a historic inflation-busting campaign in March 2022.
The central bank has seen substantial progress since then: Inflation is currently running under 3%, as measured by the Fed’s preferred inflation gauge, well below a four-decade peak reached in the summer of 2022.
While some officials remained wary of upside risks to inflation during December’s meeting, according to the minutes, they also recognized that the Fed’s key interest rate is “likely at or near its peak for this tightening cycle.”
This story is developing and will be updated.
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