US Fed holds key lending rate steady, signals cuts in 2024

The US Federal Reserve voted to keep interest rates at a 22-year high for a third straight meeting. The Fed's decision allows policymakers to determine the extent of any additional policy firming. The inclusion of the word 'any' dampens expectations of another interest rate hike. The decision keeps rates high as the Fed fights inflation towards a long-term target of two percent. The Fed also published updated economic forecasts, upgrading its growth outlook for this year and reducing it for 2024.

from Times of India https://ift.tt/ZVd2F8O