Fed may not lower rates until 2024
2022.12.16 13:37
Fed may not lower rates until 2024
Budrigannews.com – On Friday, President Mary Daly of the San Francisco Federal Reserve Bank stated that it is “reasonable” to anticipate that the Fed policy rate will remain at its peak for nearly a year and that she is prepared to maintain it for a longer period of time if necessary.
“Everyone has rates holding for ’23,” Daly said in a virtual occasion at the American Venture Organization, alluding to loan fee projections from each of the 19 Took care of policymakers distributed recently, when they likewise flagged they will probably have to lift the strategy rate to 5.1% before long. Currently, rates will be cut in the second half of 2023, according to the market.
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The Federal Reserve has averaged 11 months of interest rate hold over the past several rate hike cycles.
“I believe that 11 months is a reasonable starting point. She stated, “But I’m prepared to do more if more is required,” adding that the data will determine the exact length of time the Fed will keep rates low.
