fed meeting

US Fed holds rates steady, nods to possible September cut

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US Fed holds rates steady, nods to possible September cut

WASHINGTON: The Federal Reserve held interest rates steady on Wednesday but opened the door to reducing borrowing costs as soon as its next meeting in September as inflation continues coming into line with the U.S. central bank’s 2% target. “There has been some further progress towards the Committee’s 2% objective,” the central bank’s Federal Open … Read more

Fed still sees three rate cuts in 2024 amid sticky inflation, stronger economy

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Fed still sees three rate cuts in 2024 amid sticky inflation, stronger economy

The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the U.S. central bank’s 2% inflation target. The Fed’s new policy statement described inflation as remaining “elevated,” and updated quarterly economic … Read more