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Published 3 months ago

Fed holds rates steady but indicates three cuts coming sometime this year

  • The US Federal Reserve decided to maintain interest rates at a high level for a fifth consecutive meeting on Mar 20. It plans to make three cuts this year.
  • The Fed aims to carefully assess data and risks, with Chair Powell stating that inflation remains a concern and its path forward is uncertain.
  • Fed policymakers upgraded the US growth outlook for 2024 to 2.1%, while leaving headline inflation forecast unchanged and raising core inflation outlook to 2.6%.
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