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15 Mar 2024

International Economy

FOMC Meeting, March 19-20, 2024: Fed likely to hold its policy rate steady and signal three rate cuts this year (Business Brief No.4045 Full Ed.)


    • At the upcoming Federal Open Market Committee (FOMC) meeting, the US Federal Reserve (Fed) is expected to keep its policy rate steady at 5.25-5.50 percent, as reflected in the interest rate forecasts (Fed Dot Plot) that are presently similar to those released at the December 2023 meeting.
    • KResearch holds the view that the Fed is likely to start cutting the policy rate at its June 2024 meeting, and there will be three rate cuts this year. The Fed may aim to bring inflation back to its target of 2.0 percent.
    • The timing and number of policy rate cuts will mainly depend on economic and inflation data. If inflation declines faster than expected, and the US labor market slows markedly going forward, there is a possibility that the Fed may cut its policy rate more than three times this year.​

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International Economy