Federal Reserve meeting minutes: Hope to see further progress on inflation before interest rate cuts

Odaily Planet Daily News: Minutes of the Federal Reserve meeting show that the Fed hopes to see "further progress on inflation" before deciding to cut interest rates again. The Federal Reserve, citing rising inflationary pressures, stabilized interest rates in the range of 4.25% -4.5% at its last meeting, and the market expects no rate cuts at the March meeting. According to the minutes of the meeting, the committee unanimously agreed that "the Federal Reserve has ample time to assess the changing prospects of economic activity, labor markets, and inflation. Many economists and market strategists are concerned that tariffs and stricter immigration policies may increase inflationary pressures, potentially offsetting the positive effects of reduced taxes and relaxed regulations. The Federal Reserve has previously stated that it is not in a hurry to further cut interest rates due to persistently high inflation. Inflation has fallen from post pandemic highs, but remains stubbornly above the ideal level of the Federal Reserve. For example, the consumer price index in January increased by 3% year-on-year, the fastest pace in seven months and higher than the Federal Reserve's target of 2%. (Golden Ten)