U.S. Treasury yields fell on Thursday as investors digested the Federal Reserve’s latest guidance on what the path ahead could look like for interest rates.
U.S. Treasury yields fell on Thursday as investors digested the Federal Reserve's latest guidance on what the path ahead could look like for interest rates., which on Wednesday concluded its latest meeting. As expected, the Fed said it would leave interest rate unchanged for now.
The central bank said it was still expecting to cut rates three times, by 25 basis points each, this year. However, policymakers did not provide more hints about when the rate cuts may come. In a press conference after the meeting, Fed Chairman Jerome Powell said he expected interest rates to be cut as long as this was supported by economic data.
"We believe that our policy rate is likely at its peak for this type of cycle, and that if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year," he said. The so-called dot plot, which reflects projections from Fed officials, also showed that policymakers are expecting three rate cuts for 2025, one less than when it was last updated in December.in a surprise move, making it the first major economy to do so. Norges Bank and the Bank of England are also due to announce their latest interest rate decisions on Thursday.
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