TechFlow news: The Federal Reserve's first interest rate decision of 2024 has been released. Although the benchmark interest rate remains unchanged in the range of 5.25%-5.50%, Fed Chair Powell stated that a rate cut in March is unlikely.
He noted that inflation data are not due to one-off factors, and inflation is expected to stabilize above 2%. The Fed remains committed to achieving maximum employment and returning inflation to its 2% target. As no rate cut proposal was put forward at this meeting, market expectations for a March rate cut were dashed, leading to an overnight adjustment in US stocks.
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