At Wednesday's press conference, Powell declined to forecast when the Fed might begin cutting rates. The bank's economic outlook pegs the median federal funds rate at 4.6% at year-end, however. Americans may need to wait until the Fed's June meeting, or even later, for the first rate c...
Federal Reserve Bank Official Avoids Interest Rate Forecast.Liedtke, Michael
The Federal Reserve on Wednesdayannouncedits third consecutive interest rate cut of 2024, reducing its benchmark rate by 0.25 percentage points amid cooling inflation. Yet in a blow for borrowers, the central bank also projected that it will loosen rates less next year than previously expected....
Michael Gapen, chief U.S. economist at Bank of America, said the Fed's updated projections suggest that it expects improvements in supply chains and the availability of workers to continue, allowing the economy to grow even as inflation slows to the Fed's target. Ri...
Federal Reserve Meister: the Federal Reserve's forecast does not show that interest rates will rise sharply
For this year, the Fed projected that the economy will expand 2.1% — a big increase from its December forecast of just 1.4%. Yet at the same time, it still expects inflation to keep declining, though slowly. Michael Gapen, chief U.S. economist at Bank of America, said t...
The Fed’s dot plot is a chart updated quarterly that records each Fed official’s projection for the central bank’s key short-term interest rate, thefederal funds rate. The dots reflect what each U.S. central banker thinks will be the appropriate midpoint of the fed funds rate at the...
interest rates fairly rapidly at the start of this new monetary policy cycle, short-term rates may be slow from here to be moved closer to the Fed's "long-run" 3% rate. As of December 2024, the central bank's own forecast doesn't expect for it to return there until perhaps 2027 at...
TheFederal Reserveon Wednesday announced its third straight interest rate cut, lowering the benchmark rate by 25 basis points amid economic data showing that inflation remains above the central bank's target rate. With the 25-basis-point cut, the benchmark federal funds rate will sit at a rang...
The Federal Reserve on Thursday announced its second interest rate cut of 2024, trimming its benchmark rate by 0.25 percentage points amid cooling inflation. The expected move by the U.S. central bank provides additional relief to millions of Americans grappling with high borrowing costs. ...