The updated dot plot indicates that there is only expected to be one interest rate cut of 1 basis point (0.25%) this year, instead of the previously anticipated 3 basis point cut. Powell reiterated that the Federal Reserve currently does not have confidence in lowering interest rates and needs to see more positive data to strengthen our confidence in inflation continuing to move towards 2%.
CPI Delights FOMC Maintains Interest Rates Bitcoin Approaches 70000