FOMC holds rates again, ending year at 5.25–5.5%

“Committee is proceeding carefully” as inflation recedes, but slowly, says Powell

Jerome Powell
Jerome Powell
Federal Reserve

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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