Fed still looking at 3 rate cuts in 2024, but sees fewer next year
Policymakers now see just three rate reductions in 2025, down from the four they forecast in December, following a recent uptick in inflation.
Federal Reserve officials maintained their outlook for three quarter-point rate cuts this year but forecast fewer cuts than before in 2025 following a recent uptick in inflation.
Officials decided unanimously to leave the benchmark federal funds rate in a range of 5.25% to 5.5%, the highest since
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