<br><div><aside class="gnt_em gnt_em__fp gnt_em_vp__tp gnt_em__el" aria-label="Video - Fed holds rates steady, forecasts series of cuts next year"/><p class="gnt_ar_b_p">WASHINGTON – The <a target="_blank" href="http://www.usatoday.com/story/money/2023/12/12/federal-reserve-2024-meeting-schedule/71893580007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">Federal Reserve</a> left its key short-term interest rate unchanged again Wednesday, hinted that rate hikes are likely over and forecast three cuts next year amid falling inflation and a cooling economy.</p><p class="gnt_ar_b_p">That’s more rate cuts than many economists expected.</p><p class="gnt_ar_b_p">The decision leaves the Fed’s benchmark short-term rate at <a target="_blank" href="http://www.usatoday.com/story/money/2023/09/20/fed-interest-rates-live-updates/70899903007/" data-t-l=":b|e|k|${u}" class="gnt_ar_b_a" rel="noopener">a 22-year high of 5.25% to 5.5%</a> following a flurry of rate increases aimed at subduing the nation’s sharpest inflation spike in four decades. The central bank has now held its key rate steady for three straight meetings since July.</p><p class="gnt_ar_b_p">That provides another reprieve for consumers who have faced higher borrowing costs for credit cards, adjustable-rate mortgages and other loans as a result of the Fed’s moves. Yet Americans, especially seniors, are finally reaping healthy bank savings yields after years of paltry returns.</p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p">In recent weeks, with inflation slowing more emphatically and the economy and job market cooling, talk has shifted from whether the Fed would hike again to how rapidly it will trim rates next year.</p><p class="gnt_ar_b_p"><strong>Protect your assets:</strong> <a target="_blank" rel="noopener" data-t-l=":body nav (hys)|e|auto spike click:6|${u}" class="gnt_ar_b_a" href="https://www.usatoday.com/money/blueprint/banking/savings/best-high-yield-savings-accounts/">Best high-yield savings accounts of 2023</a></p><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">401(k) boon:</strong><a target="_blank" href="http://www.usatoday.com/story/money/2023/12/13/dow-jones-record-high-close/71910975007/" rel="noopener" data-t-l=":b|e|spike click:7|${u}" class="gnt_ar_b_a">Stocks surge, Dow Jones hits all-time high at close after Fed forecasts lower rates</a></p><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Leaving savings behind:</strong><a target="_blank" href="http://www.usatoday.com/story/money/2023/10/30/americans-missing-high-yield-interest-on-savings-accounts/71380014007/" rel="noopener" data-t-l=":b|e|spike click:8|${u}" class="gnt_ar_b_a">Many Americans are missing out on high-interest savings accounts. Don't be one of them</a></p><aside aria-label="advertisement" class="gnt_m gnt_x gnt_x__lbl gnt_x__al"/><p class="gnt_ar_b_p"><strong class="gnt_ar_b_al">Where's economy going?:</strong><a target="_blank" href="http://www.usatoday.com/story/graphics/2023/12/13/soft-landing-chart-fed-funds-rate/71904133007/" rel="noopener" data-t-l=":b|e|spike click:10|${u}" class="gnt_ar_b_a">Is a soft landing in sight? What the Fed funds rate and mortgage rates are hinting at</a></p><h2 class="gnt_ar_b_h2"><a target="_blank" id="gpd-1702494239921" class="gnt_ar_b_ba" rel="noopener"> Will the Fed raise interest rates again?</h2><p class="gnt_ar_b_p">The central bank didn’t...</p></div> <style> .wrapper { text-align: center; } </style> <div class="wrapper"> <a class="button" href ="https://www.usatoday.com/story/money/2023/12/13/fed-interest-rate-hike-live-updates/71896343007/">Read more <span>➤</span></a> </div>
