Breaking news: Prices were up 6.5 percent in December compared with a year ago, marking a sixth consecutive month of falling inflation rates
have long said their decisions will be guided by incoming data, and the December report won’t overhaul their outlook in any direction. But it will help fill in their expectations for where inflation is headed before their next meeting, set for
Jan. 31-Feb. 1. They’re expected to raise interest rates by either half a percentage point or one-quarter of a percentage point as they get closer to pausing hikes altogether.For nearly all of 2022, the Fed scrambled to catch up to sky-high prices and hoisted rates by more than four percentage points over the course of the year, the fastest pace in decades.
two or three more increases in the coming months. But they will soon shift into a new chapter, pausing rates and keeping pressure on the economy simplyThe obvious risk is that the Fed might slow the economy so much that it forces a recession. If history is any guide, that could happen this year as the full scope of high rates take hold. But so far, many parts of the economy remain surprisingly resilient: Employers are still eager to hire, and the job market added a
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