Reported about 1 year ago
At its June meeting, the Federal Reserve left the federal funds target range steady at 5.25%-5.50%, signaling 'modest further progress' in lowering inflation towards the 2% target. They adjusted their anticipated rate cuts for 2024 to one cut from three but foresee 100 basis points worth of cuts in 2025. The decision was unanimous, with officials revising inflation forecasts and maintaining unemployment and GDP projections. The move was a response to CP I report's influence, suggesting more consecutive positive quarters are needed for future rate adjustments.
Source: YAHOO