Federal Reserve holds interest rates steady, still projects cuts ahead

Share on linkedin The Federal Reserve in Washington, DC on March 18. Photo: MANDEL NGAN/AFP via Getty Imagesleft interest rates unchanged Wednesday and officials tweaked projections in ways that suggest less rate-cutting may lie ahead than previously envisioned.The Fed's announcements suggest its plans to bring rates down this year remain intact, though the questions of "when" and "how much" are uncertain.

Fewer leaders of the central bank anticipate deep rate cuts this year than did in December, and their consensus view now involves fewer rate cuts for 2025 than anticipated three months ago.Speaking to reporters, Fed chair Jerome Powell said that data hasn't "really changed the overall story, which is that of inflation moving down gradually, on a sometimes bumpy road, toward 2%."

In December, for example, five top Fed officials anticipated four or more rate cuts this year. Now only one official holds that view .

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