Federal Reserve holds rates steady, sees two cuts in 2025 amid economic uncertainty
Federal Reserve officials left interest rates unchanged and continued to pencil in two rate cuts in 2025, saying uncertainty over the economic outlook was still high but had diminished. The Federal Open Market Committee voted unanimously on Wednesday to hold the benchmark federal funds rate in a range of 4.25%-4.5%, as they have at each of their meetings this year. Follow the reaction in real time on Bloomberg’s TOPLive blog Officials also downgraded their estimates for economic growth this year while lifting their forecasts for unemployment and inflation. While the median expectation for two rate cuts in 2025 didn’t change, a number of officials lowered their projections. Seven officials now foresee no rate cuts this year, compared with four in March. Two others pointed to o...
