"Federal Reserve Maintains Steady Rates, Anticipates Three Cuts This Year"

The Federal Reserve kept interest rates steady and indicated plans for three quarter-point cuts by the end of 2024, with the first expected in June. The Fed's GDP growth forecast for this year was raised to 2.1%, and the unemployment rate projection was slightly lowered to 4%. The central bank also discussed potential balance sheet reduction but made no decisions. Markets rallied following the announcement, with the Dow Jones Industrial Average finishing up over 1%.