Fed officials began a two-day policy meeting on Tuesday, Dec. 13, following the release of new data that show the easing of price pressures.
The Consumer Price Index (CPI) in November rose at the slowest pace in 15 months, validating plans by the Fed to trim the increase in the federal funds rate to a half point after four consecutive 0.75 percentage point hikes.
The CPI last month gained 7.1% from a year ago, less than forecast, and was significantly down from 7.7% in October, the Labor Department reported on Dec. 13. Read more.