Federal Reserve keeps key rate unchanged, still foresees 3 rate cuts this year

Updated at 2:36 p.m.

FEDERAL RESERVE Board Chair Jerome Powell speaks during his appearance before the House Financial Services Committee on Capitol Hill in Washington / ASSOCIATED PRESS FILE PHOTO / MARK SCHIEFELBEIN

WASHINGTON (AP) – Federal Reserve officials signaled Wednesday that they still expect to cut their key interest rate three times in 2024 despite signs that inflation stayed surprisingly high at the start of the year. Yet they foresee fewer rate cuts in 2025, and they slightly raised their inflation forecasts. After ending their latest meeting,

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