Fed Remains Hawkish Despite Signs of Cooling Inflation
Inflation may be showing signs of slowing, but the Fed is committed to raising rates until it’s convinced that it no longer is a problem.
Economic data released this week and the Fed’s latest policy announcement serve as reminders that even though inflation is headed in the right direction, we’re not there yet. This should be the key takeaway from comments by central bank Chairman Jerome Powell in his post-Fed meeting press conference.
Inflation may be showing signs of slowing gradually, but the Fed remains committed to raising rates until policymakers are convinced that it no longer is a problem. However, keeping the upward pressure on interest rates also increases the chances of recession, which may be the topic of discussion when the Fed meets again in February.
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