Fed's Surprising Move: Steady Rates, Possible 2024 Cuts - Impact on Markets and Economic Outlook!

The Federal Reserve has decided to keep interest rates steady for the third time in a row, but they're hinting at making three rate cuts in 2024, surprising the market. This decision, in light of improving economic conditions and lower inflation, caused the Dow Jones Industrial Average to jump over 400 points. Looking forward, the Fed plans four cuts in 2025 and three more in 2026 to bring interest rates down to 2%-2.25%. They also hinted that they might stop raising rates. Fed Chair Jerome Powell acknowledged the economic slowdown but emphasized a patient approach to any future adjustments in policy.