Here are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday:
- Federal Open Market Committee votes to maintain the benchmark interest rate in target range of 4.25%-4.5%
- “Dot plot” of rate projections shows the median official expected to lower rates by a half percentage point in 2025, implying two quarter-point cuts this year, the same as they expected in March
- The statement removes language noting that the committee “judges that the risks of higher unemployment and higher inflation have risen.” Fed says uncertainty about the economic outlook has “diminished but remains elevated”
- Median Fed official marks up underlying inflation ...