The minutes of the US Federal Reserve, issued Wednesday, from the Monetary Policy Committee meeting in December, showed that Fed officials agreed that it would be appropriate to keep interest rates high for some time, while acknowledging that they may have reached the peak of interest rates, and that they will begin to reduce within a year. 2024.
Officials at the US Federal Reserve reaffirmed that the policy will remain in the restrictive position for some time until inflation moves clearly towards a sustainable decline.
The Fed's Monetary Policy Committee expressed its readiness to cut the key interest rate in 2024, if the inflation trend continues to decline, although the timing of such a move remains uncertain.
During its last meeting on December 13, the US Central Bank kept interest rates unchanged for the third time in a row, to remain at a level ranging between 5.25 and 5.5 percent, which is the highest in 22 years.
The Federal Reserve indicated in updated economic forecasts in December that the historic tightening of US monetary policy had reached an end and that borrowing costs would decline in 2024, as it expected a decline of 75 basis points over the next year.
US Central Bank Chairman Jerome Powell said, after the meeting, that the historic tightening of monetary policy has likely ended. Policymakers are almost unanimous in their expectations that borrowing costs will fall in 2024.
