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. They anticipate at least three rate cuts for 2024, but one less rate cut in 2025.
Inflation increased by 3.2% in February. Fed Chair Jerome Powell stated that they will continue to monitor inflation and economic indicators to determine when to lower rates.
Source: Loan Digest (loandigest.net)
Federal Reserve Interest Rates Rate Cuts Inflation Economic Indicators
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