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Goolsbee says it’s too soon to determine when Fed will cut interest rates

Por: MarketWatch Business January 19, 2024

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The central bank jacked up a key short-term rate to a top end of 5.5% from near zero in a 16-month period from March 2022 to July 2023 in an effort to slow the economy, cool off the labor market and restrain inflation. The Fed stopped raising interest rates last summer as inflation decelerated sharply. The rate of inflation has slowed to around 3% from a 40-year peak peak of 9.1% in 2022, based on the consumer-price index. The Fed is aiming to... + full article



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