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Federal Reserve and Their Interest Rate Cuts
Federal Reserve officials indicated on Wednesday their anticipation of implementing three interest rate cuts in 2024. This announcement, despite acknowledging persistent inflation, sparked a rally on Wall Street. At present, the officials have maintained their benchmark rate unchanged for the fifth consecutive time. During a news conference, Chair Jerome Powell emphasized that the recent surge in inflation during January and February has not fundamentally altered the Fed's economic outlook. The central bank maintains its expectation for inflation to gradually decrease, albeit at a slower pace than previously anticipated three months ago.
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