The FOMC cautioned the markets against self-defeating expectations of an early Fed pivot in 2023 in the meeting minutes from December 13–14.
The Committee emphasized that the delay in rate hikes should not be read as a turn and reiterated the Volcker narrative, particularly the worry that inflation is hardening.
The US Federal Reserve (Fed) December meeting minutes were released on Wednesday.
Rabobank analysts share their reflections on the minutes.
