Fed set for 1st rate decision since forecasting cuts
ABC News
The decision comes days after GDP data rebuked fears of a recession.
Washington, D.C., and Wall Street will closely watch an announcement from the Federal Reserve on Wednesday about whether to shift its benchmark interest rate.
The move marks the first such decision since the Fed said last month that it expects to cut rates in 2024.
Economists expect the Fed to leave rates unchanged, delaying rate cuts until later in the year. The next opportunity for a rate move will take place at a meeting in March.
An aggressive series of rate hikes since last year has spurred an increase in borrowing costs for everything from mortgages to credit cards to auto loans. But the Fed has signaled that it plans to ease rates in response to falling inflation.
The rate decision is set to arrive days after fresh data showed that the U.S. economy cooled in its latest quarter but performed much better than forecasters expected, boosting optimism about the nation's prospects for averting a recession.
