Reported about 1 year ago
The Federal Reserve announced its plan to lower interest rates once this year, in contrast to the three cuts previously expected in March. The Federal Reserve officials project the rate to peak at 5.1% in 2024, indicating a potential 0.25% rate cut from their current stance. The 'dot plot' forecasts policymakers' expectations for future interest rate changes, with 15 officials predicting a rate cut this year, with a close call between one or two cuts. Following the announcement, markets priced in a 71% chance of a rate cut at the Fed's September meeting.
Source: YAHOO