Fed Keeps Rates Unchanged, Forecast Series Of Hikes In 2024

The Federal Reserve has concluded its two-day meeting on Wednesday by leaving interest rates unchanged and signaling strongly that there will be a less hawkish stance next year, with the potential for three rate cuts across 2024. Interest rates were left unchanged at 5.25% to 5.5%, though they remain at their highest in two years. Since March 2022, the Fed has raised interest rates by 525 basis points.  The move was in line with expectations.  Earlier on Wednesday, Treasury Secretary Janet Yellen stated that “inflation is meaningfully…