The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though it said the outlook is more uncertain. The Fed also now expects the economy to grow more slowly this year and next than it did three months ago, according to a set of quarterly economic projections also released Wednesday. “Uncertainty around the economic outlook has increased,” the Fed said in a statement released after its two-day meeting.
Federal Reserve keeps interest rate unchanged, sees slower growth, slightly higher inflation ahead
The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year, though it said the outlook is more uncertain. The Fed also now expects the economy to grow more slowly this year and next than it did three months ago, according to a set of quarterly economic projections also released Wednesday. “Uncertainty around the economic outlook has increased,” the Fed said in a statement released after its two-day meeting.