Federal Reserve Holds Interest Rates Steady, Dots Point to 75 bps Cuts for the Year
Wednesday, 20 March 2024, 20:07
Forexlive Americas FX news summary
Federal Reserve Interest Rate Decision
- Rates remained unchanged
- FOMC dot plot shows 75 bps cuts in 2024
- Powell's dovish stance influences market reactions
The Federal Reserve opted to leave interest rates unchanged, projecting potential 75 basis points cuts for 2024. Powell's comments on a dovish stance have led to positive market reactions, with record highs in US stocks and a weakened dollar. BoJ hints at upcoming rate hikes may impact the USD/JPY exchange rate.
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