Reported 7 months ago
Federal Reserve officials signaled one rate cut this year, but remained open to two as Chair Jerome Powell highlighted the new forecasts' conservative approach. The Fed updated economic projections after a policy meeting, expecting to lower borrowing costs only once in 2024 instead of the previously planned three cuts, citing optimism despite elevated inflation forecasts. The committee held the benchmark rate steady, with investors anticipating two cuts this year. Powell underscored uncertainty over monetary policy impacts, emphasizing a split within the committee regarding rate cuts and longer-term projections, hinting at the potential need for more cuts depending on economic data.
Source: YAHOO