The Committee decided to maintain the target range for the Fed funds rate at 4.25-4.50% at the January meeting; the decision was unanimous, OCBC’s FX Frances Cheung and Christopher Wong analysts note.
Current monetary policy is ‘meaningfully above the neutral rate’
“The Statement was seen as carrying a hawkish tilt on two fronts: 1/It dropped the reference that ‘inflation has made progress towards the Committee’s 2 percent objective’; and 2/ it also dropped the assessment that ‘the labor market conditions have generally eased’. Powell sounded more dovish at the post-meeting press conference, saying the economy is strong overall,
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