Reported about 1 year ago
Federal Reserve officials have revised their interest rate forecasts, indicating only one rate cut in 2024 and projecting more cuts in 2025. The officials voted to maintain the federal funds rate range at 5.25% to 5.5%, but now anticipate cutting rates only once this year instead of the previously forecasted three reductions. The adjustments come as inflationary pressures have eased and policymakers seek further data to confirm sustainable progress towards the 2% inflation target.
Source: YAHOO