Fed officials see interest rate cuts ahead, but only ‘gradually,’ meeting minutes show
According to minutes from the November meeting that were made public on Tuesday, Federal Reserve officials expressed confidence that inflation is slowing and the labor market is robust, allowing for additional interest rate decreases, albeit gradually.
Several words in the meeting report suggested that policymakers are content with the rate of inflation, despite the fact that it is still higher than the Fed's target of 2% by most metrics.
Members of the Federal Open Market Committee stated that additional rate reduction are expected to occur, but they did not say when or to what extent, in light of this and their belief that the jobs outlook is still somewhat stable.
According to the minutes, participants in the discussion of the outlook for monetary policy expected that it would be approp...