The minutes of the Fed’s Federal Open Market Committee (FOMC) meeting held on December 13-14 have been published.
In the minutes, it was generally stated that the interest rate increase should continue.
Headlines from the meeting are as follows:
“Participants at the policy meeting held on 13-14 December expressed their opinion that it would be appropriate to continue to increase the interest rate.
None of the participants expressed an opinion that interest rate cuts would be appropriate in 2023.
Participants concluded that substantial progress had been made in the past year with the Fed’s containment policy.
Respondents indicated that they were strongly committed to returning to the 2% inflation target.
Participants welcomed the decline in inflation in October and November.”
The minutes also included statements about the collapse of FTX. Respondents commented that the collapse of cryptocurrency exchange FTX was “not seen to bring broader market risks to the financial system.”