The Federal Reserve will announce its latest policy decision at its second meeting of the year today, and the stakes are high.
No action by the U.S. central bank on the rates front is seen as the most likely outcome. However, updated projections for interest rates and fresh commentary from Fed Chairman Jerome Powell may be a wild card, potentially signaling fewer rate cuts and a later start to policy easing than previously anticipated.
As such, there will be a lot on the line when the U.S. central bank delivers its monetary policy decision and updated economic projections at 2:00 PM ET on Wednesday afternoon.
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The Fed is all but certain to keep the benchmark Fed funds target range between 5.25% and 5.50%, where it has been since last July.
Source: Investing.com
FOMC policymakers will also release their new forecasts for interest rates and economic growth, known as the «dot plot», which will reveal greater signs of the Fed's likely rate trajectory through the rest of 2024 and beyond.
In December, the «dot plot» showed Fed officials anticipate three interest rate cuts this year and an additional easing of 100 basis points in 2025.
All eyes will then turn to Fed Chair Powell, who will hold what will be a closely watched press conference, as investors look for fresh insight into his views on the economy and inflation and how
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