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

Odaily Planet Daily News: The minutes of the Federal Reserve meeting showed that the Federal Reserve hopes to see "further progress on inflation" before deciding to cut interest rates again. Citing rising inflationary pressures, the Federal Reserve stabilized interest rates in the range of 4.25%-4.5% at its last meeting, and the market expects no rate cut at the March meeting. According to the minutes of the meeting, the committee unanimously agreed that "the Federal Reserve has ample time to assess the changing prospects 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 relaxed regulations. The Federal Reserve has previously indicated that it is in no hurry to cut interest rates further due to persistently high inflation. Inflation has fallen from its post-epidemic highs, but remains stubbornly higher than the Fed's ideal level. For example, the consumer price index in January increased by 3% year-on-year, the fastest pace in seven months and higher than the Fed's 2% target. (Jinshi)