The Federal Reserve announced that it would maintain interest rates but plans to reduce them later this year. Inflation increased in February, and the central bank will continue to monitor economic indicators to determine when to lower rates.
The Federal Reserve announced that it would maintain the federal funds rate at 5.25% to 5.5% and plans to begin reducing them sometime this year. Fed officials anticipate at least three rate cuts for 2024, but now anticipate one less rate cut in 2025.
Inflation increased by 3.2% in February as housing inflation and gas prices rose. Fed Chair Jerome Powell stated that the central bank will continue to monitor inflation and economic indicators to determine when to lower rates.
Federal Reserve Interest Rates Rate Cuts Inflation Economic Indicators
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