Topline
The Federal Reserve on Wednesday set the stage for additional interest rate hikes in the coming months and revealed officials still aren’t convinced any rate cuts will be necessary this year—dashing hopes the central bank would pivot from the aggressive policy that has rattled investors, tanked the housing market and ushered in telltale signs of a looming recession.
Key Facts
According to a summary released Wednesday, Fed officials at their latest meeting in December deemed additional interest rate hikes in the coming months would be “appropriate” to help slow inflation, and none of them anticipated it would be appropriate to cut rates this year—challenging some expectations the central bank will do so to stimulate growth.
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