June 12, 2024
The Federal Reserve once again has decided to keep interest rates steady.
That means they will not increase or decrease the rate this month. The rate has remained at this really high 5.25-5.5% for seven straight meetings.
But that could be changing very soon.
Remember this inflation report I shared with you in this video earlier this morning? Well obviously, the fed does not base its decisions to raise or lower interest rates on one specific report – but today’s consumer price index report is giving some hints that what the fed has been doing is working to cool off this economy and get inflation back down to the 2% target goal.
Ok – I’m telling you this because the Federal Reserve chairman is about to speak with the media and we are expecting him to give us some hints about these future rate cuts.
We were expecting three rate cuts in 2024 – but pesky high inflation derailed that original plan. So now – the Fed is projecting just one interest rate cuts. The question is when.
I’ll give you more updates as soon as the fed chairman’s press conference is over.
Read the Fed’s projections here.
