The Federal Reserve kept its monetary policy settings unchanged for the fifth consecutive meeting and signaled its intention to deliver 75 basis points of easing this year, the same outlook embraced back in December.
The Federal Reserve leaves interest rates unchanged at the end of its March meeting, in line with expectations
First off, GDP growth projections for 2024 were upgraded to 2.1% from 1.4% previously, pointing to increased confidence in the economy's resilience and its capacity to steer clear of a recession. Back in December, the Fed projected borrowing costs to end 2024 at 4.6%, suggesting three quarter-point rate cuts for a total easing of 75 basis points. Today's iteration shows the same outlook, indicating policymakers may not be overly worried about firming inflationary pressures just yet.
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