"8 of 12 Federal Reserve regional banks supported holding the discount rate in December"
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Summary
- It reported that 8 of the 12 Federal Reserve regional banks under the U.S. Federal Reserve supported holding the discount rate in December.
- It was confirmed that many regional Fed presidents expressed the view that maintaining monetary policy even after a policy rate cut was appropriate.
- It assessed that caution about the pace of monetary policy easing is predominant within the Fed, increasing the likelihood that discussions over the future path of the policy rate will be prolonged.
It was revealed that 8 of the 12 Federal Reserve regional banks under the U.S. Federal Reserve (Fed) supported holding the discount rate (discount rate) in December of last year.
According to the minutes of the December Federal Open Market Committee (FOMC) released by the Fed on the 6th (local time), many regional Fed presidents expressed the view that it was appropriate to maintain monetary policy for a period after a policy rate cut and voted to hold the discount rate.
The minutes stated, "Some regional Fed presidents judged that although the trend of slowing inflation continues, economic uncertainty remains high, so it is preferable to maintain the current level of the policy interest rate rather than hastily implementing additional easing."
The result of this vote suggests that cautious views on the pace of monetary policy easing still prevail within the Fed, and it is assessed to increase the likelihood that discussions over the future path of the policy rate will be prolonged.
