FOMC holds rates again, ending year at 5.25–5.5%
“Committee is proceeding carefully” as inflation recedes, but slowly, says Powell
The US Federal Open Market Committee (FOMC) unanimously voted to continue its rate pause for a third consecutive meeting, it announced on December 13, holding rates at 5.25–5.5%. The committee suggested large cuts would not come soon, with Federal Reserve chair Jerome Powell saying “ongoing progress in bringing [inflation] down is not assured”.
In its statement, the committee noted the continued strength of the US labour market. “Recent indicators suggest that growth of economic activity has
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