May 22 local timefreehouseoffun, the Federal Reserve announced that the Federal Open Market Committee (FOMC) will be held from April 30 to May 1freehouseoffunminutes of the meeting. The minutes of the meeting showed that the Federal Reserve decided to slow down the pace of raising interest rates in May and continue to maintain the target range of the federal funds rate at 5.freehouseoffun.25%-5freehouseoffun.50%.
According to the minutes of the meeting, economic data showed that inflation was more lasting than previously expected, the economy was generally resilient, and policy expectations changed significantly accordingly. The policy interest rate path derived from futures prices means that there will be fewer than two 25 basis points interest rate cuts by the end of the year, and the modal path based on options prices is quite flat, indicating that a maximum of one interest rate cut will be in 2024.
The minutes of the meeting stated that inflation has eased over the past year, but remains high, and in recent months, the committee's 2% inflation target has not made further progress. The committee strives to achieve maximum employment and 2% inflation over the long term. The committee judged that the risks to achieving employment and inflation targets have tended to be better balanced over the past year, but the economic outlook is uncertain and the committee remains highly concerned about inflation risks. (CCTV reporter Liu Xu)