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Expected inflation five years ahead rose to 3% last month, the highest since May 2024, according to results of the New York Fed’s Survey of Consumer Expectations published Feb. 10.

In a statement, officials repeated that inflation remains “somewhat elevated” but removed a reference to it having made progress toward their 2% goal.

WASHINGTON — The Federal Reserve cut its key interest rate Dec. 18 by a quarter-point — its third cut this year — but also signaled that it expects to reduce rates more slowly next year.

WASHINGTON — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves.

Federal Reserve Bank of Minneapolis President Neel Kashkari said he’ll be looking at incoming inflation data to determine whether another interest-rate cut is appropriate in December.

Officials voted unanimously to lower the federal funds rate to a range of 4.5% to 4.75%. The adjustment follows a larger, half-point cut in September.

The average level of trust in the Fed’s ability measured 3.2 on a scale of 1 to 7, with 7 representing the highest trust. The authors also found a political divide among respondents.

Jerome Powell stressed that the Fed’s current goal is to support a largely healthy economy and job market, rather than rescue a struggling economy or prevent a recession.

WASHINGTON — The Federal Reserve’s preferred inflation measure on Sept. 27 provided the latest sign that price pressures are easing, a trend that is expected to fuel more interest rate cuts.

The Federal Reserve on Sept. 18 cut its benchmark interest rate by an unusually large half-point, a dramatic shift after more than two years of high rates.