According to the latest information, the Federal Reserve decided to keep the federal funds rate unchanged in the range of 5.25% to 5.5% at its March 2024 meeting. The decision was in line with market expectations as recent inflation data showed prices were still rising faster than the Fed wanted. Although inflation has fallen significantly from its peak of 9.1%, it remains more than a percentage point above the Fed's 2% target.

Federal Reserve Chairman Jerome Powell emphasized at the meeting that although inflation has fallen significantly, it is still above the target and the Fed does not expect to cut interest rates until it is confident that inflation can move sustainably toward the 2% target. Fed officials maintained their previous forecast of three interest rate cuts by the end of 2024.

Market participants generally expect the Fed to start cutting interest rates at or after its June meeting. However, Powell did not provide a specific timetable for rate cuts during the meeting, emphasizing that the Fed will evaluate interest rate decisions meeting by meeting based on economic data and inflation.

Overall, the Fed did not cut interest rates at its March meeting, but still expects three rate cuts later in 2024. The Fed's decision reflects its continued focus on inflation, while also indicating that it will not rush to adjust current interest rate levels until inflation is more effectively controlled.

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