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Fed unlikely to cut rates in March

Federal Reserve Chair Jerome Powell indicated that the Fed is unlikely to cut rates in March and suggested that the policy rate has likely reached its peak for the current tightening cycle.

The December meeting minutes also hinted that the Fed is finished with rate hikes, with most participants agreeing that a lower target range for the federal funds rate would be appropriate.

Powell emphasized the need for more good data to support any future decisions, given the uncertain economic outlook and inflation risks. These remarks and the minutes reflect a cautious approach to future rate decisions, with the Fed unlikely to significantly change its rate forecasts since December.

Overall, the Fed's stance is influenced by uncertainty surrounding the economic outlook and inflation concerns.

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