Live updates: Fed leaves interest rates unchanged, but forecasts future cuts
Daniel de Visé
USA TODAY
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The Federal Reserve took a wait-and-see approach to an uncertain US economy Wednesday, opting to leave
interest rates unchanged at the close of its March meeting.
That decision leaves the benchmark federal funds rate parked at a range of 4.25% to 4.5%, where it has sat since December. The Fed has now stood on the economy’s sidelines for two consecutive meetings, dating to January, after an unusually busy period of interest rate increases and reductions over the previous three years.
The Fed also kept its forecast for two cuts in 2025.
"We do not need to be in a hurry to adjust our policy stance," said Fed Chair Jerome Powell during a news conference. Investors and economists will parse his words for commentary on the direction of the economy.