Fed Keeps Rates Unchanged, Signals 1 Rate Cut This Year

Fed policymakers say ’there has been modest further progress’ toward restoring price stability.

Federal Reserve Chair Jerome Powell announces that interest rates will remain unchanged during a news conference at the Federal Reserves’ William McChesney Martin building in Washington on June 12, 2024. Kevin Dietsch/Getty Images

The Federal Reserve left its key interest rate policy unchanged on June 12, while officials at their latest monetary policy meeting predicted one rate cut this year.

At the conclusion of their two-day Federal Open Market Committee (FOMC) monetary policymaking meeting, the Fed voted to leave its policy rate at a range of 5.25 percent to 5.5 percent.