Fed maintains expectations for three interest rate cuts in 2024

BlockBeats news, on March 21, Federal Reserve officials maintained their outlook for three interest rate cuts this year, but due to the recent rise in inflation, they reduced their expectations for a rate cut in 2025 than before. Policymakers said they still plan to cut interest rates for the first time this year, but they now expect just three cuts in 2025, instead of the four forecast in December. "The Committee believes that risks to achieving its employment and inflation objectives are better balanced," the FOMC statement said. The Fed's post-meeting statement was nearly identical to its January statement, maintaining guidance that a rate cut would not be appropriate until officials have more confidence that inflation will sustainably move toward its 2% target. (Golden Ten)