As predicted, Fed decides to keep rates at peak: 5.25-5.5%, predicts 3 rate cuts in 2024:
Dot-plot of members shows projected rate at year-end (average of members' views) at ~4.6% , equivalent to 3 cuts (-75bps) this year.
Long-term rate projection (~2.5%) and 2024 projection unchanged - but projections for rates in the next 2 years (2025 - 2026) are both higher than in December.
