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The Fed kept the interest rates unchanged at 5.5% in line with consensus estimates.
FOMC Key Points:
⚫ It is premature to cut rates at this time
⚫ More confidence is needed that inflation is on a stable downward trajectory
⚫ Inflation levels remain high
⚫ One rate cut of 0.25% is projected for this year, with an additional 1% cut expected in 2025
⚫ Economic activity continues to grow at a steady pace