Federal Reserve officials in December concluded that interest rate cuts are likely in 2024, though they appeared to provide little in the way of when that might occur, according to minutes from the meeting released Wednesday. At the meeting, the rate-setting Federal Open Market Committee agreed to hold its benchmark rate steady in a range between 5.25% and 5.5%. Members indicated that they expect three quarter-percentage point cuts by the end of 2024. However, the meeting summary noted a high level of uncertainty over how, or if, that will happen.
Source: CNBC
