Federal Reserve officials say it isn’t appropriate to reduce interest rates until there is greater confidence inflation is heading toward the central bank’s target, as some policymakers warn that progress on inflation could stall.
According to minutes from the January Federal Open Market Committee (FOMC) policy meeting, officials want to wait for more numbers before cutting the benchmark Fed funds rate. However, they dismissed the possibility of raising rates, noting that the policy rate has likely peaked in the current cycle.
