Fed Holds Rates at 5.50% Top of Range, Sees Three Rate Cuts in 2024, QT to Continue

The FOMC voted unanimously today to keep its five policy rates unchanged, with the top of its policy rates at 5.50%. It was the third meeting in a row when the Fed held its policy rates, after the rate hike at its meeting in July. The decision had been widely telegraphed. The infamous “dot plot,”...