💨 Abstract

The Federal Reserve kept interest rates steady, anticipating higher inflation and slower economic growth, while signaling possible rate cuts by the end of 2025. Maintaining the key rate between 4.25% and 4.5%, the Fed's projections suggest a higher likelihood of economic stagnation, with a projected 1.4% GDP growth and 3.0% inflation for 2024. The Fed also revised unemployment projections to 4.5%.

Courtesy: WTOP Staff