financetom
News
financetom
/
News
/
Fed holds interest rates unchanged, but expects a single rate cut in 2024
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Fed holds interest rates unchanged, but expects a single rate cut in 2024
Jun 12, 2024 2:03 PM

The Federal Reserve announced a decision to maintain interest rates unchanged between 5.25% and 5.5% at the June 11-12 meeting, maintaining them at 23-year highs.

The Feds policy statement explains that the Federal Open Market Committee considers the risks facing achieving better employment and inflation goals are moving towards a better balance, but the economic outlook remains uncertain.

More crucially, the Fed expects a single interest rate cut this year instead of three cuts mentioned at the March meeting statement.

The statement included the phrase: The Committee remains very vigilant to inflation risks, which shows continued concerns about the path of inflation.

Its worth noting that mainline US inflation has slowed down to 3.3% in May from a peak of 9.9% in 2022.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
India's Avani Prashanth to be awarded Global Child Prodigy Award 2022
India's Avani Prashanth to be awarded Global Child Prodigy Award 2022
Dec 14, 2021
India's Avani Prashanth has been selected for Global Child Prodigy (GCP) Award 2022. The 15-year-old will be awarded for her excellence in golf in February 2022 at Dubai.
Milind Soman completes 1,000 km long 'Green Ride' on bicycle to raise awareness against air pollution
Milind Soman completes 1,000 km long 'Green Ride' on bicycle to raise awareness against air pollution
Dec 14, 2021
The ride on bicycle aimed to raise awareness against air pollution. Green Ride entourage started on December 3 from Mumbai and passed through Maharashtra, Gujarat, Rajasthan and Haryana.
Coronavirus Omicron Highlights: BMC to test guests who attended Karan Johar's party; Maharashtra reports 8 more cases of Omicron
Coronavirus Omicron Highlights: BMC to test guests who attended Karan Johar's party; Maharashtra reports 8 more cases of Omicron
Dec 14, 2021
Omicron News Highlights: With 5,784 fresh cases, the lowest in 571 days, India's COVID-19 tally has climbed to 3,47,03,644, while the number of active cases of the infection has declined to 88,993, the lowest in 563 days, the Union health ministry said on Tuesday. The death toll due to the viral disease has shot up to 4,75,888 with 252 more fatalities, according to the ministry's data updated at 8 am. The number of fresh cases of coronavirus infection has been recorded below 15,000 for the last 47 days now. The number of active coronavirus cases in the country has declined to 88,993, accounting for 0.26 percent of the total caseload and the lowest since March 2020, while the national COVID-19 recovery rate was recorded at 98.37 percent, the highest since March 2020, the ministry said. A decline of 2,463 cases was recorded in the active COVID-19 caseload in a span of 24 hours.
End of Korean War agreed to in principle: A Look at history of the conflict
End of Korean War agreed to in principle: A Look at history of the conflict
Dec 14, 2021
South Korea and North Korea reached an Armistice Agreement in July 1953 ending the hostilities but the Korean War had not ended as there was peace treaty signed between the neighbours.  
Copyright 2023-2025 - www.financetom.com All Rights Reserved