SUMMARY OF FED DECISION (6/12/24):
1. The Fed kept interest rates unchanged for the 7th consecutive meeting
2. Officials raise 2024 inflation forecast from 2.4% to 2.6%
3. The median forecast suggests only 1 rate cut in 2024
4. Median forecast sees a 100 basis point rate cut by 2025
5. Fed says inflation has eased "but remains high"
6. Average 2024 core PCE inflation estimate increases from 2.6% to 2.8%
