15 Dec 2023 4:55 am
The markets have been on a celebratory tear in recent weeks, as signs pile up that the Federal Reserve may be done raising interest rates. Inflation has come down dramatically since the Fed began hiking borrowing costs last March to slow the economy amid decades-high price growth. Federal Reserve policymakers now see as many as three rate cuts in 2024, the Fed announced Wednesday, although Chair Jerome H. Powell made it clear that interest rate cuts would depend on how the economy is doing