💨 Abstract

The central bank held interest rates steady as expected at the end of a two-day policy meeting. But the rate-setting Federal Open Market Committee said “inflation remains elevated” and the Fed’s job is to lower it. The personal consumption expenditures price index at 3.3% at year-end, up from June’s forecast of 3.2%, and its overnight lending rate to be 5.1% at end of 2024.

Courtesy: theprint.in