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Fed kept Interest Rates Unchanged, Suggesting Just One Rate Cut in 2024

Mary Liu

Summary: The Federal Reserve opted to maintain its key interest rate at the current range of 5.25% to 5.50% for the seventh straight meeting on Wednesday. This decision aligns with market expectations. Nick Timiraos interpreted the dot plot and said that four Fed officials did not expect a rate cut this year, up from two in ...

The Federal Reserve opted to maintain its key interest rate at the current range of 5.25% to 5.50% for the seventh straight meeting on Wednesday. This decision aligns with market expectations.

Nick Timiraos interpreted the dot plot and said that four Fed officials did not expect a rate cut this year, up from two in the March forecast. Seven officials expected one rate cut this year, and eight officials expected two rate cuts. This means that a slight majority believes that the base case is that there will be no more than one rate cut this year.

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