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Fed holds rates steady, indicates three cuts coming in 2024

  • The Federal Reserve has decided to maintain the federal funds rate target range at 5.25%-5.5%, ending the rate-hiking cycle.
  • Inflation has eased but remains elevated, with the Fed committed to bringing it back to the 2% target.
  • The Fed plans to continue reducing its holdings of Treasury securities and agency debt, totaling up to $95 billion a month.
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