Fed Holds Rates Steady and Projects Single Cut for 2026
The Federal Reserve kept rates steady on Wednesday while raising inflation forecasts. Officials now project just one rate cut this year amid war uncertainty.
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The United States central bank maintained interest rates at their current levels on Wednesday while signaling a cautious approach toward future cuts amid rising inflation concerns. Federal Reserve Chair Jerome Powell indicated that the economic outlook is clouded by "unusually high uncertainty" as officials monitor the consequences of the conflict between Israel and Iran. The Federal Open Market Committee voted 11-1 to keep the benchmark overnight interest rate within the 3.50% to 3.75% range.
