FOMC Summary ⬇️

The December rate cut was generally supported, but there is no rush for future moves.

The economic outlook has been revised upward, albeit modestly.

Some members see it as appropriate to keep rates steady for a period after the cut.

If inflation continues to decline, there is room for new cuts.

Rapid rate reductions risk reigniting inflation.

Particularly emphasized was the perception that the 2% inflation target is not being missed.

Reserves are declining, so discussions are underway about Treasury bond purchases.

These purchases are not policy easing but are for technical operational purposes.

Current interest rate: 3.50–3.75

%84.5 = Rates remain unchanged.

%15.5 = 25 bp cut (3.25–3.50)

The market does not expect a rate cut from the Fed in January 2026; a wait-and-see approach is dominant.