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Fed Keeps Key Rate Unchanged, Still Expects 1 Rate Cut This Yr on Mounted Uncertainty from War
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The Federal Reserve maintained on Wednesday its key interest rate unchanged, as expected, while still anticipating one rate cut this year. However, it noted mounted uncertainty from the Middle East war. The committee voted 11 to 1 to keep the federal funds rate in the range of 3.5-3.75%. The authorities pointed out that the impact of the Mideast crisis on the US economy remains unclear and will closely monitor the risks faced within its dual mandate. In the latest rate forecast, officials still expected a 25-bp rate cut in both 2026 and 2027, while no official indicated a preference for a rate hike this year. The authorities slightly raised this year's economic growth forecast from 2.3% predicted in December to 2.4%, and the inflation forecast from 2.4% to 2.7%. Fed Chair Jerome Powell will hold a press conference at 2:30 PM. AASTOCKS Financial News Website: www.aastocks.com |
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