US FED KEPT INT RATES UNCHANGED

SUMMARY OF FED DECISION (3/20/24):

1. Fed leaves rates unchanged for 5th straight meeting
2. Fed continues to expect 3 interest rate cuts in 2024
3. Core PCE inflation forecast for 2024 raised to 2.6%
4. Fed says inflation “has eased but remains elevated”
5. Fed does not expect rate cuts until “greater confidence” inflation is moving to 2%
6. Fed now only sees 2 rate cuts in 2025, fewer cuts in 2026