Reply To: Central Bank Watch – Powell, ECB and BoE Speakers at Riksbank

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TradersCom
Keymaster

Minutes from the December 13-14 FOMC meeting

Highlights:

Participants observed that slowing hikes would allow to assess progress on inflation and employment
Participants stressed that it would take substantially more evidence of progress to be confident that inflation was on a sustained downward path
No participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023
Participants continued to anticipate that ongoing increases in the target range for the federal funds rate would be appropriate
Participants reaffirmed their strong commitment to returning inflation to the Committee’s 2 percent objective
October and November showed welcome reductions in the monthly pace of price increases, but they stressed that it would take substantially more evidence of progress to be confident that inflation was on a sustained downward path
Participants generally noted that the uncertainty associated with their economic outlooks was high and that the risks to the inflation outlook remained tilted to the upside