The committee does not expect that it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. We will continue to make our decisions meeting by meeting. We’re looking for greater confidence that inflation is moving sustainably down to 2 percent. Implicitly, we do have confidence and has been increasing, but we want to get greater confidence. We’re looking at continuation of the good data that we’ve been seeing.

Source: New York Times February 01, 2024 00:13 UTC