Fed Officials Oppose December Rate Cuts, Citing High Inflation and Need for More Data

Fed voters explained their opposition to rate cuts on Dec. 12, citing elevated inflation and the need for more data, BlockBeats reports. Chicago Fed President Goolsby cited tariff impacts on inflation, while Kansas City Fed President Schmid said inflation remains high. Philadelphia Fed President Harker said the Fed will assess tariffs and AI, noting that policy would differ if AI drives a productivity boom.