Fed Leaves Rates Unchanged, Plans One Cut This Year

The Federal Reserve concluded its two-day policy meeting on Wednesday, leaving interest rates unchanged and indicating that there will be one cut in 2024, with more cuts following the next year and beyond. Earlier on Wednesday, just prior to the Fed’s announcement, new inflation data showed a notable slowdown in consumer price increases for May, in the clearest indication that inflation is cooling.  Consumer prices rose 3.3% in the year through May, showing a slowdown in inflation. Oil prices were ticking up on Wednesday, with both Brent…