See multiple perspectives from CNN Business, Fox Business, and CNBC at AllSides.com.
, according to data released Wednesday morning; in a statement explaining its decision, the Fed wrote that “Inflation has eased over the past year but remains elevated,” citing “modest further progress toward the Committee’s 2 percent inflation objective.”Coverage was common across the spectrum. Business outlets usually highlighted the contrast between the Fed’s decision on future rate cuts and investors’ hopes for more rate cuts.
New quarterly economic projections laid out after the meeting show that a majority of Fed officials who participated expect rates to fall to just 5.1% by the end of 2024, suggesting there will only be one quarter-point rate cut this year – a sharp reversal from the three they had predicted in March.The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year.
With markets hoping for a more accommodative central bank, Federal Open Market Committee policymakers following their two-day meeting took two rate reductions off the table from the three indicated in March. The committee also signaled that it believes the long-run interest rate is higher than previously indicated.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed holds interest rates steady at 23-year high despite US inflation easing slightly in MayThe decision came hours after fresh data showed a slight cooldown of inflation.
Read more »
Fed holds interest rates steady at 23-year high despite US inflation easing slightly in MayThe decision came hours after fresh data showed a slight cooldown of inflation.
Read more »
Fed holds interest rates steady at 23-year high despite US inflation easing slightly in MayThe decision came hours after fresh data showed a slight cooldown of inflation.
Read more »
WATCH LIVE: Fed Chair Jerome Powell Holds Press ConferenceWATCH LIVE: Fed Chair Jerome Powell Holds Press Conference
Read more »
The Federal Reserve holds interest rates steady — here's what that means for your moneyThe Federal Reserve will keep rates where they are, for now — here’s what that means for your credit card, mortgage rate, auto loan and savings account.
Read more »
The Federal Reserve holds interest rates steady — here's what that means for your moneyThe Federal Reserve will keep rates where they are, for now — here’s what that means for your credit card, mortgage rate, auto loan and savings account.
Read more »