Another pause as FOMC responds to trajectory of inflation

The penultimate FOMC meeting of 2023 was preceded by some dovish Fedspeak in October. For example:

Atlanta Fed President Raphael Bostic told the American Bankers Association, “I think our policy rate is in a sufficiently restrictive position to get inflation down to 2%,” suggesting, “I actually don’t think we need to increase rates any more.”  Philadelphia Fed President Patrick Harker told members of the Delaware State Chamber of Commerce that, “Absent a stark turn in wh...

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