Key Takeaways From Minutes Of Fed’s December Rate Meeting

(Bloomberg) -- Here are key takeaways from minutes of the Federal Reserve’s Dec. 12-13 meeting, released Wednesday:

• No sign of imminent rate cuts: Policymakers say their projections imply reductions “would be appropriate by the end of 2024” and several suggest rates could stay at current level for longer than they currently anticipate
• The benchmark rate was seen as likely at or near its peak, though officials note that further rate hikes remain possible if the economy warrants them
• In addition, Fed officials stressed a “careful” approach to rate decisions and reaffirmed that policy should remain restrictive “for some time” until inflation was more sustainably moving toward central bank’s target
• At the same time, officials acknowledge “clear progress” in 2023 toward Fed’s 2% inflation goal
• Several Fed officials suggested that well before any decision to slow the balance-sheet reduction, the central bank should begin to discuss technical factors that would guide such an action

For Bloomberg’s TOPLive blog on the Fed minutes, click here

--With assistance from Craig Torres.

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