The Fed agreed that the rate hike cycle may be over, without discussing when to start cutting interest rates

The minutes of the Federal Reserve meeting showed that Fed officials agreed at the December meeting that the interest rate hike cycle that began in 2022 may have ended. They pointed to a moderation in inflation, especially the six-month annualized rate, and signs that supply chains are returning to normal while the labor market is beginning to loosen as more people join the workforce. They also say raising interest rates above 5% has dampened consumer demand, thereby easing inflation. They did not discuss when to start cutting interest rates. The Fed's dot plot shows the bank plans to cut interest rates three times in 2024. (Golden Ten)