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FOMC outcome: Interest rates steady at 5.25% to 5.5%, Fed hints at single rate cut in 2024

Interest rates steady at 5.25% to 5.5%. Fed Chair Jerome Powell said that the Fed is not confident about reducing interest rates, even though it has eased substantially. He added that the inflation needs to meet its target of 2% for FOMC to start rate cuts. Central bank policymakers noted that there has been “modest further progress” toward its 2% inflation objective. Watch!

first published: Jun 13, 2024 01:42 pm

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