The central bank expects its elevated rate to damper economic activity in the coming months.
The Federal Reserve announced no change to its policy interest rate following its Federal Open Markets Committee meeting on Wednesday.Per the Fed’s, the central bank “decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.”
The decision was largely predicted by markets and signals a potential peak for the Fed’s rapid rate hiking regime that began early last year., BlackRock’s Marilyn Watson predicted that the Fed’s target rate will likely remain flat until the end of the year, with modest rate cuts beginning in late 2024.
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