The US central bank has signalled it could start cutting interest rates next year if inflation continues to fall.
Forecasts released by the Federal Reserve showed a majority of policymakers expect to cut its key interest rate in 2024.
But on Wednesday the central bank decided to keep rates unchanged again at 5.25%-5.5%, a 22-year high.
But on Wednesday the central bank decided to keep rates unchanged again at 5.25%-5.5%, a 22-year high.
The three major indexes in the US ended the day up 1.4%.
The bank has raised rates sharply since March 2022, in a bid to cool the economy and slow price rises, which last year soared at the fastest rate in decades.
“It is far too early to declare victory,” said bank chairman Jerome Powell. “There is a lot of uncertainty and we’ve seen the economy move in surprising directions, so we’re just going to need to see further progress.”
But the Fed’s confidence is growing.
The US central bank has signalled it could start cutting interest rates next year if inflation continues to fall.
But on Wednesday the central bank decided to keep rates unchanged again at 5.25%-5.5%, a 22-year high.
Forecasts released by the Federal Reserve showed a majority of policymakers expect to cut its key interest rate in 2024.
The three major indexes in the US ended the day up 1.4%.
But on Wednesday the central bank decided to keep rates unchanged again at 5.25%-5.5%, a 22-year high.
But on Wednesday the central bank decided to keep rates unchanged again at 5.25%-5.5%, a 22-year high.
The three major indexes in the US ended the day up 1.4%.
The bank has raised rates sharply since March 2022, in a bid to cool the economy and slow price rises, which last year soared at the fastest rate in decades.
“It is far too early to declare victory,” said bank chairman Jerome Powell. “There is a lot of uncertainty and we’ve seen the economy move in surprising directions, so we’re just going to need to see further progress.”
But the Fed’s confidence is growing.
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