It is “Fed Day” once more. Federal Reserve officers penciled in only one interest-rate lower this yr and forecast extra cuts for 2025, reinforcing policymakers’ calls to maintain borrowing prices excessive for longer to suppress inflation.
Officers voted unanimously to maintain the benchmark federal funds price in a spread of 5.25% to five.5% — a two-decade excessive first reached in July. Coverage makers now see 4 cuts in 2025.
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