Fed holds rates steady, forecasts 3 rate cuts in 2024

The Federal Reserve has left interest rates unchanged, maintaining a target range for the federal funds rate at 5.25 to 5.5%. In the statement, FOMC officials say the Committee "judges that the risks to achieving its employment and inflation goals are moving into better balance."
The March release also includes an updated Summary of Economic Projections. That release shows nine officials see three rate cuts in 2024.
Yahoo Finance Federal Reserve Reporter Jennifer Schonberger reports on the Fed's decision.
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