Though the Fed had initially anticipated frequent rate cuts through 2025 and even 2026, it readjusted its projections in December. Powell noted that caution will be used going for

But minutes from their December meeting suggest that the decision was a close call — and that there is no guarantee policymakers will lower rates again anytime soon. The minutes of the central bank’s Dec.

The latest snapshot of the US labor market affirmed what Federal Reserve officials have made clear in recent days: Interest-rate cuts are on hold for the foreseeable future.

Wall Street stocks slumped and the dollar climbed on Friday as a robust US jobs report dimmed hopes of further interest rate cuts.

The US economy defied expectations in December, adding 256,000 nonfarm payroll jobs, surpassing economists forecast of 164,000 and Novembers revised 212,000 increase. The unemployment rate dipped to 4.