• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Fed Keeps Rate Cut Predictions Despite Stubborn Inflation
Business

Fed Keeps Rate Cut Predictions Despite Stubborn Inflation

March 20, 2024No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Fed Chair Powell Testifies In Senate Banking Hearing
Share
Facebook Twitter LinkedIn Pinterest Email

The Federal Reserve announced on Wednesday that it would not change its benchmark federal funds rate or its prediction for the year, even as persistent inflation pushes back rate cut expectations.

The Fed’s decision not to change rates keeps the target range between 5.25% and 5.50%, the highest level since 2001, marking the fifth meeting in a row where the Fed chose to not adjust the rate, according to an announcement from the Fed following a meeting by the Federal Open Market Committee (FOMC). Despite high rates, the Fed has so far failed to decelerate inflation down to its goal of 2%, with the consumer price index (CPI) most recently measuring at 3.2% in February year-over-year, up from 3.1% in the month before. (RELATED: Huge Discrepancy In Jobs Data Could Be Making Biden’s Economy Look Way Stronger On Paper)

Investors ahead of the Fed announcement were projecting 99% odds that the rate would be held steady, with a majority of analysts not counting on a rate cut until the Fed’s FOMC meeting in June, according to the CME Group’s FedWatch Tool. Predictions of when the Fed will announce its first rate cut of 2024 have consistently been pushed back as inflation remains elevated, with the odds at the end of January being at 58% that the Fed would cut rates in March.

The Fed chose to maintain the same prediction that it set last December for the year, projecting that the rate will end 2024 at 4.6% and indicating that it will likely cut the federal funds rate three separate times by 0.25% each, according to the Fed’s summary of economic projections. A median of Fed governors did change their longer-term predictions from December, estimating that 2025 will end at a rate of 3.9% instead of 3.6% and 2026 will end at 3.1% instead of 2.9%.

See also  Fed's Powell says question of rate cuts not on radar right now

“Americans have paid a terrible price for the Fed failing to contain inflation,” Thomas Hogan, senior research faculty at the American Institute for Economic Research, told the Daily Caller News Foundation. “The Fed is likely to be extra careful not to revive inflation by cutting interest rates too soon … The main thing people will be looking for from this meeting is the FOMC’s economic projections.”

RRPs drop $70 billion to lowest level since May ’21, but still not on track to completely drain by end of Mar; full drain is unlikely until this May: pic.twitter.com/UpSVBLw5YW

— E.J. Antoni, Ph.D. (@RealEJAntoni) March 15, 2024

Other inflation metrics have also shown persistent price increases, including the Fed’s preferred inflation metric, the personal consumption expenditure price index, which increased 2.4% year-over-year in January. The producer price index, which tracks inflation before it reaches consumers, increased 0.6% in February month-to-month, twice what economists had expected, and rose 1.6% for the year.

“CPI inflation rose in February, but not by much,” Hogan told the DCNF. “The recent uptick in inflation was mostly due to housing prices, which enter the CPI calculation with a lag, so they represent the change in home prices from about a year ago. Housing prices have since stabilized and are even declining in many markets. My guess is that the recent inflation numbers were not interpreted by the Fed as the return of high inflation and will not have much effect on the Fed’s plans.”

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

See also  Looking To Retire Soon? You’ll Need Over $1 Million To Live ‘Comfortably’ Under Biden, Report Finds

cut Fed inflation predictions rate stubborn
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Crimean-Congo Hemorrhagic Fever, CCHF, Virus Spreading In Europe Due To Climate Change

July 9, 2023

Type of artificial sweetener may increase heart attack risk

February 28, 2023

Honda posts 31% Q2 operating profit jump, raises full-year forecast

November 9, 2023

‘Music’s Never Had A Greater Value To Me’: Famous Guitarist Details His Battle With Stage 4 Cancer

February 16, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Sienna Miller Reveals Pregnancy News

August 21, 2023

Stocks pop as house passes debt deal

June 1, 2023

Algeria Bans ‘Barbie’ Movie Because It ‘Promotes Homosexuality and Other Western Deviances’

August 15, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.