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The Fed is holding rates steady and predicts only one cut this year

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Federal Reserve officials left interest rates unchanged in their June decision and predicted they would cut borrowing costs just once before the end of 2024, a sign they plan to be patient before making a U-turn in their fight against rapid inflation. Central bankers raised interest rates rapidly between early 2022 and July 2023, taking … Read more

The Federal Reserve anticipates only one rate cut this year

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WASHINGTON (AP) – Federal Reserve officials said Wednesday that inflation has fallen further toward their target level in recent months, but signaled that they expect to cut their key interest rate only once this year. Policymakers’ forecast for one rate cut was down from an earlier forecast of three because inflation, despite cooling in the … Read more