Timiraos on FOMC - rate cuts postponed 'for the foreseeable future', Powell the main event

Nick Timiraos reports that due to firmer-than-expected inflation in early 2023, Federal Reserve officials are likely to keep the federal-funds rate steady, delaying rate cuts for the foreseeable future. The upcoming Federal Open Market Committee (FOMC) meeting will not feature new economic projections, and minimal changes are expected in the Fed’s policy statement. The main focus will be on Fed Chair Jerome Powell’s press conference, where he is anticipated to maintain a cautious stance on the inflation outlook and rate adjustments.