Federal Reserve officials signalled they were in no rush to cut interest rates in January, keeping a close watch on inflation and economic conditions. Minutes from the Fed’s January 28-29 meeting showed policymakers wanted to see more progress on inflation before making any moves. For now, the benchmark rate remains at 4.25-4.50%.Many officials felt rates could stay high if the economy stayed strong and inflation remained sticky. The cautious tone follows the Fed’s one-percentage-point rate cuts in late 2024, with several policymakers stressing that inflation needs to cool further toward the 2% target before they consider another reduction.
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