OPINION: The Federal Reserve should declare an immediate cease fire in its war against inflation, and it should hold its benchmark interest rate steady instead of raising it by a half percentage point to a range of 4.25% to 4.50%.
The Federal Reserve should declare an immediate cease fire in its war against inflation and hold its benchmark interest rate steady instead of raising the federal funds by a half percentage point to a range of 4.25% to 4.50%, as expected at its meeting that ends Wednesday.
With the relatively benign report on the consumer price index in November released on Tuesday, the Fed now has “compelling evidence” that it has achieved its immediate goal of seeing a significant slowing in inflation.
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