12/13/2023

The Fed Indicates Rates Will Likely Not Rise Again

The agency could cut them next year

The Federal Reserve signaled it is probably done raising interest rates to curb inflation and the central bank could start cutting rates next year.

Inflation has moderated recently, giving more comfort to policymakers. Annual inflation fell to 3.1 percent in November, thanks in part to a steep drop in gasoline prices, the Labor Department said Tuesday. Overall prices are climbing less than half as fast as they were at the beginning of the year.

"We're seeing inflation making real progress," Fed chairman Jerome Powell told reporters Wednesday. "These are the things we've been wanting to see."

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