FED Leaves Rates Unchanged, But The Statement Issued Is More Critical.

FED Leaves Rates Unchanged, But The Statement Issued Is More Critical.

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According to the published statement, the FED decided to keep interest rates constant, but the published dot plot and statements are critical.

The FED decided to keep interest rates constant. However, it was seen that the FED followed a rather hawkish attitude in the statements it published with the interest rate decision.

Here are the statements made by the FED along with the interest rate decision:

The FED left the overnight interest rate constant in the range of 5.25-5.50% and foresees only one interest rate cut in 2024.

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Despite the 'lack of progress' mentioned in the May 1 statement, 'modest progress' was made towards the 2% inflation target.

The Fed does not think it would be appropriate to lower its policy target range until it gains greater confidence that inflation is sustainably moving toward 2%.

The economy continues to grow at a solid pace, employment growth is strong, and the unemployment rate remains low.

The risks to achieving policy objectives have moved towards a better balance.

Inflation decreased last year but remains high.

The FED will continue to reduce its holdings of Treasury securities and mortgage-backed securities.

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According to FED forecasts, 4 out of 19 officials do not foresee a rate cut in 2024, while 7 predict 1 and 8 predict 2 cuts.

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