Officials from the Federal Reserve Board are adopting a 'neutral' policy stance, noting strong economic performance, and waiting for Donald Trump's policies to become clearer. Federal Reserve Governor Michelle W. Bowman stated during a speech in California on January 9: 'I expect that in the coming months we should be able to clarify the policies of the incoming administration as well as the continuation of inflationary pressures in 2024.' Bowman's remarks, along with comments from Kansas City Fed President Jeff Schmid on the same day, suggest that, due to strong U.S. economic performance before the end of 2024 and inflation rates remaining 'above the 2% target', there may be no need for further rate cuts. Schmid said: 'I believe we are close to a point where the economy does not require restrictions or support, and the policy should be neutral.'