Fed meeting minutes: Hope to see further progress on inflation before cutting interest rates

Odaily News The Fed's minutes showed that the Fed hopes to see "further progress on inflation" before deciding to cut interest rates again. Citing rising inflationary pressures, the Fed kept interest rates steady at 4.25%-4.5% at its last meeting, and the market expects no rate cut at the March meeting either. According to the minutes, the committee agreed that "the Fed has ample time to assess the changing outlook for economic activity, the labor market, and inflation." Many economists and market strategists worry that tariffs and stricter immigration policies could increase inflationary pressures, potentially offsetting the positive effects of lower taxes and looser regulations. The Fed has previously indicated that it is in no rush to cut interest rates further due to persistently high inflation. Inflation has fallen from its post-epidemic highs, but remains stubbornly above the Fed's ideal. For example, the consumer price index in January rose 3% year-on-year, the fastest pace in seven months and above the Fed's 2% target. (Jinshi)