BUSINESSBATON ROUGE BUSINESS REPORT
Fed holds rates steady but opens the door to hikes later this year
The Federal Reserve maintained its key interest rate but nine officials projected at least one rate hike in 2024, a shift from earlier expectations of cuts. The decision reflects heightened inflation concerns and the influence of new chair Kevin Warsh, who omitted his rate forecast and advocated for briefer economic statements.
Mentioned
Related Signal
Adjacent reporting
- Fed keeps interest rates unchanged, says hikes may be coming later this year
- Federal Reserve keeps rate unchanged, but nearly half of policymakers would support hike this year
- Federal Reserve holds rates steady as Kevin Warsh chairs his first meeting - and now a rate hike is looking more likely than a cut this year