Banknotes: October to December 2023

A round-up of news and salient issues that have affected central bankers in the past three months

Federal Reserve
Monetary policyFed holds

The Federal Open Market Committee held the fed funds rate steady at 5.25–5.5% at its September meeting. Fed chair Jerome Powell said the US seemed more likely to avoid a recession, but committee members projects, at most, modest rate cuts in 2024.

Observers differed on whether the FOMC would make more increases before the end of this year, though the committee’s own projections suggested the rate would be 5.6% at year end, implying perhaps one more small hike.

At the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account