« … Fed Chair Jerome Powell told reporters after 🇺🇸 "... Fed Chair Jerome Powell told reporters after the December FOMC meeting that the longer the U.S. central bank needs to keep rates higher, the narrower the runway for a soft landing becomes. "I don't think anyone knows whether we're going to have a recession or not. And if we do, whether it's going to be a deep one or not, it's just not knowable," Powell said.
The latest median forecast for 2023 shows that rates could go up to 5.1%, with the Fed also looking for the real GDP to come in at 0.5% in 2023 and the PCE inflation to slow to 3.1% in 2023.
The minutes revealed that officials recognize the "significant progress" made after rates climbed by 425 basis points in 2022 and worry about the potential risk of over-tightening..."
https://www.kitco.com/news/2023-01-04/Gold-price-holds-just-above-1-850-as-Fed-minutes-reveal-worry-about-misperception-and-unwarranted-easing.html
https://www.reuters.com/markets/commodities/gold-firms-dollar-slide-market-focus-fed-minutes-2023-01-04/
https://www.sabre.gold/