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This is CBS I and the world. I'm John Bachelor. The American Economy at Christmas time.

The Federal Reserve has spoken. Mr. Powell's remarks in these last hours indicate that the

11 hikes of the Federal Reserve's interest rates

for the best customers since the spring of 22 is over with. There will not be a 12th.

However, that may or may not mean

mean the next move by the Fed is a cut. It may be that we're going to stay at

this elevated level for some time with housing mortgages 7 to 8 percent with

hesitation of capital investment. The Wall Street Journal has headlines suggesting

there are other points of view.

For example, Fed official says Central Bank, quote,

isn't really talking about rate cuts.

That's the very influential New York Fed President John Williams.

Also, other Federal Reserve governors have indicated that they're not entirely sure that

cuts in the federal rate are visible that data dictates.

We also have this from streetwise at the journal.

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