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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