Fed taking cautious stance on rate path

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James Bullard

James Bullard says the FOMC is “bordering on going too far”

Federal Reserve officials recognise the path for the policy interest rate is “less clear” this year, after it hiked the rate in its December meeting.

Federal Open Market Committee minutes released on January 9 reveal that against the backdrop of market volatility, slower global growth, and low inflation, “many” FOMC members believe the Fed “could afford to be patient about further policy firming”.

Officials said the effects of recent tightening are “likely still working their way through the



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