"Fed Maintains Rate Cut Forecast Despite Raised GDP and Inflation Outlook"

The Federal Reserve maintained its outlook for three interest rate cuts and held steady on interest rates at the conclusion of its March meeting. Fed Chair Jerome Powell emphasized that higher inflationary data hasn't changed the overall trend downward and reiterated the Fed's intention to cut rates before the end of the year. The decision to hold rates steady was seen as dovish by market strategists, and investors reacted positively, with stocks rising modestly after the announcement. The Fed also indicated that it has not yet made a decision on how to change the pace of its balance sheet reduction.