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Fed Minutes: Officials Wary of Inflation & Trump Policies, Plan to Slow Rate Cut Pace
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Officials expressed concerns about inflation and the possible impact of US President-elect Donald Trump's policies, signaling a slower rate cut pace due to the uncertainty, according to the minutes of the Fed's December monetary policy meeting. Since Trump won the election in November, he has signaled plans to impose aggressive punitive tariffs on China, Mexico and Canada, as well as other US trading partners. Almost all of the officials believed that upside risks to the inflation outlook had increased, and were concerned about the possible impact of recent stronger-than-expected inflation data, as well as potential changes in trade and immigration policy, the minutes said. For the time being, with its policy stance still clearly restrictive, the authority has the ability to take time to assess the changing outlook for economic activity and inflation, including the economy's actions in response to the Committee's earlier policies, most officials noted. Future policy initiatives will depend on how the data develops, rather than following a set timetable. AAStocks Financial News |
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