No FOMC Member Expects Rate Cuts of Three or More Times This Year

IconCryptoNewsTerminal Staff13 Jun, 2024

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No FOMC Member Expects Rate Cuts of Three or More Times This Year

No Federal Open Market Committee (FOMC) member anticipates three or more rate cuts this year, according to the FOMC's June dot plot. In contrast, 10 members had projected three or more rate cuts in March. This shift in expectations reflects the FOMC's growing concern about inflation. The FOMC has raised rates three times this year in an effort to tame inflation, which is currently at a 40-year high. The FOMC is expected to continue raising rates in the coming months.

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