Following what many financial experts expected, the Federal Reserve has opted to leave interest rates unchanged once again. The decision marks the sixth consecutive time that the Central Bank officials opted not to cut rates amid its ongoing fight against inflation.
The two-year tightening campaign did not end until September of 2023. Since then, Fed officials have left rates unchanged as they implemented a wait-and-see approach. Now, all eyes are on when Chair Jerome Powell and when the Federal Reserve will finally decide to begin cutting rates.
Also Read: Federal Reserve Governor Makes Huge Prediction On BRICS vs US Dollar
Federal Reserve Leave Interest Rates Unchanged for 6th Consecutive Meeting
Over the past two years, the Federal Reserve has been engaged in an inflation fight as it sought to avoid a recession in 2024. The fruits of those efforts were seen in the declining inflation figures that have emerged throughout the end of 2023, and the start of this year. However, the US economy is now anxiously awaiting when those interest rates can be cut.
Unfortunately, that won’t happen in March. Specifically, the Federal Reserve has decided to leave interest rates unchanged once again in 2024. The decision is the sixth consecutive time the rates were left unchanged. Moreover, it takes place after February data shows inflation reached 3.1%.
Also Read: Donald Trump Says He Will Fire FED Chair Powell if Elected in 2024
Although that is a notable decline, the current inflation data is still above the Fed’s 2% target. Now, there is an expectation that the inflation fight that led to 40-year highs in June of 2022 could conclude in a matter of months. Many experts have predicted Mach to be the setting of the first interest rate cuts.
Moreover, financial analysts will be looking at Powell’s statement today regarding the decision. Specifically, they will seek any insight into the Fed’s trajectory through his statements. Currently, the Chair is expected to reiterate the Centarl Banks commitment to its wait-and-see approach.
