The U.S. Federal Reserve has decided to maintain its key interest rate for the third consecutive time, suggesting that a series of quarter-point cuts are expected in 2024.
The Fed's decision to keep rates unchanged is a reflection of its belief that inflation has eased but remains elevated. It also indicates that the central bank may not see the need for additional rate hikes in the future.
The high benchmark rate of 5.4% has had a significant impact on the economy, particularly on the housing market and consumer spending.
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