Gelonghui December 7 | Beth Hammack, President of the Federal Reserve Bank of Cleveland (2024 FOMC voting member): It is expected that the Federal Reserve will cut interest rates once by the end of January 2025. Given the current situation, the Federal Reserve may not be far from a neutral policy stance. The Federal Reserve is "at or near" the point at which it should slow down the pace of rate cuts. It should maintain a slightly restrictive monetary policy for a period of time. Currently, monetary policy is only "somewhat restrictive". The data available until the FOMC monetary policy meeting on December 17-18 will shape the outlook. The pace of inflation decline has slowed, and gradual progress in inflation is expected going forward.
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