US Fed keeps key rate unchanged for 5th straight time, signals 3 rate cuts this year
World BusinessMar 21, 2024
The US Federal Reserve on Wednesday held its benchmark lending rate steady for a fifth consecutive time and signaled that it could lower the rate three times this year in line with policymakers' previous projections. After the two-day Federal Open Market Committee meeting, the central bank announced its decision to maintain the rate in the 5.25 to 5.50 percent range. FOMC members' latest median economic projections showed that the federal funds rate would be cut to 4.6 percent at the e