The Federal Reserve unanimously believes that the rate hike cycle may have ended and did not discuss when to start cutting rates

ChainCatcher news, the Federal Reserve's meeting minutes show that Fed officials unanimously agreed at the December meeting that the interest rate hike cycle that began in 2022 may have come to an end. They noted that inflation has eased, particularly the six-month annualized inflation rate, and there are signs that supply chains are returning to normal, while the labor market is beginning to loosen as more people join the workforce. They also stated that raising interest rates above 5% has suppressed consumer demand, thereby easing inflation. They did not discuss when to start cutting rates. The Fed's dot plot indicates that the bank plans to cut rates three times in 2024.