FOMC Minutes - 2024-01-02

So much for the lie that rate cuts were not discussed at the December FOMC. The minutes are unambiguous that the lowered projections for the funds target, showing cuts in the three coming years, were explained by participants as based on "improvements in their inflation outlooks," subject to "an unusually elevated degree of uncertainty." 

But the best part of the December meeting minutes is the discussion of the contracting money supply and the deflation that will likely follow. Wait. Never mind. They didn't mention that.