Federal Reserve to Cut Interest Rates Once in 2024 According to 'Dot Plot'

Reported about 1 year ago

The Federal Reserve has indicated a plan to lower interest rates only once in 2024, a significant decrease from the three rate cuts that were projected back in March. Following the updated economic forecasts in the Summary of Economic Projections (SEP), the 'dot plot' revealed that 15 officials predict a rate cut this year, with a majority expecting a total of four rate cuts in 2025. This projection demonstrates a shift towards a 'higher for longer' policy to address inflation and maintain a steady economic growth pace.

Source: YAHOO

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