Fed announces fourth consecutive rate hold this year

CoinFeed, June 18 - According to CCTV News, the U.S. Federal Reserve announced on the 17th that it will continue to maintain the target range for the federal funds rate at 3.5% to 3.75%. This decision to hold rates for the fourth consecutive time this year is in line with broad market expectations. The Fed's concurrently released Summary of Economic Projections shows that the median forecast for the federal funds rate in 2026 among Fed officials rose to 3.8% from 3.4% in March. This implies that Fed officials expect to implement rate hikes this year. The Summary of Economic Projections also shows that the Fed significantly raised its median forecast for the personal consumption expenditures price index this year to 3.6% from 2.7% in March, and its median forecast for core inflation this year rose to 3.3% from 2.7%. The U.S. economic growth forecast for this year was lowered to 2.2% from the previous 2.4%.