The Federal Reserve Board, the central bank of the United States, has released the minutes of its meeting held last month.
We found that none of the participants believed that the current monetary tightening would be necessary to keep inflation under control, and that a rate cut would be the right situation this year.
At its monetary policy meeting last month, the Fed decided to raise interest rates by 0.5 percentage points to curb record inflation.
Until the last meeting, the Fed had decided to raise interest rates by 0.75% four times in a row, but it has decided to reduce the amount of interest rate hikes.
According to the minutes of this meeting, which was released on the 4th, it is important for many participants to clearly send out the message that they do not judge that inflation is heading for convergence, regarding the reduction in rate hikes. I was emphasizing.
And participants acknowledged that the current tightening of monetary policy would need to continue until there was evidence of a sustained decline in inflation, which "would take some time."
Nor did any of the participants believe that a rate cut this year would be the right situation.
Fed Chairman Jerome Powell said at a news conference after last month's meeting that the U.S. consumer price index had fallen for the fifth month in a row. You should understand that," he said, showing the idea that it will take time to control inflation.