Current outlook calls for gradual, patient approach to rate cuts.Supported December Fed rate cut but was a close call.Fed not on preset path, policy well-positioned.Current outlook in line with Fed December forecasts.Economy in a 'good place overall' with notable uncertainties.Too soon to say what impact election will have on economy.Now expects more inflation relative to recent past.December rate cut provided insurance for labor market.Job market unlikely to be driver of inflation right now.Housing factors still major driver of inflation.Less worried about labor market fragility.Economy on gradual, uneven trajectory back to 2% inflation
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This article was written by Greg Michalowski at www.forexlive.com.
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