After years of near-zero Fed coverage charges, the U.S. central financial institution in early 2022 launched into a protracted sequence of fee hikes, finally taking its fed funds fee as much as the 5.25%-5.50% vary in 2023. Since, it has been a ready sport, with the Fed eager to see crystal clear indicators that inflation was meaningfully slowing to its 2% goal earlier than shifting to start trimming charges. That day absolutely has now arrived.
