Fed Officials Suggest Interest Rate Hikes May Be Nearing an End as Inflation Cools

Inflation has steadily declined from a peak of 9% in June 2022 to around 3% currently.
Multiple Fed officials acknowledge progress in lowering inflation but say more rate hikes may be needed to reach 2% target.
Officials are closely monitoring economic data and trends in inflation to determine if further hikes are required.
Projections indicate interest rates could hold steady or even decrease slightly in 2023 as inflation comes down.
Reaching the final stretch of 2% inflation target will likely be a slow and challenging process.