Fed holds steady, but rate cuts coming? 12/13/23

The Federal Reserve held its key interest rate steady for the third straight time, but also set the table for multiple cuts to come in 2024 and beyond. Along with the decision to stay on hold, committee members penciled in at least three rate cuts in 2024, assuming quarter percentage point increments. That’s less than market pricing of four, but more aggressive than what officials had previously indicated. We’ll break down what that means for markets and your money, right up until Fed Chair Powell’s press conference.