Fed still eyeing 3 rate cuts in 2024, despite stubborn inflation

U.S. Federal Reserve policymakers suggested Wednesday that they continue to see the need for three interest rate cuts in 2024, despite recent signs of resilient economic growth.The forecast, unchanged from December, was released following a two-day meeting of the rate-setting Federal Open Market Committee, reflecting its confidence that inflation is coming down. It kept its benchmark interest rate on hold at a 23-year high of 5.25-5.50 percent as widely expected.In its quarterly economic projections, the median forecast for the rate at the end of 2024 remained at 4.6 percent, meaning the ce…READ FULL ARTICLE