01Business / Monetary policy
March 20, 2024
The Fed holds rates steady
The Federal Reserve kept its benchmark range unchanged and left the next move open.
One story.
Many perspectives.
ARCHIVE / FOUR PARTS
What happened
The Federal Open Market Committee kept the federal funds target range at 5.25%–5.50%. Its statement said economic activity continued to expand at a solid pace while inflation remained elevated. [1]
Who’s involved
Why it matters
The decision kept short-term borrowing conditions where they were. The committee’s next move depended on how incoming inflation and employment data changed its view of the economy. [1]
Context / interpretation
What happens next
Sources
PRIMARY RECORD- 01FOMC statement, March 20, 2024
Federal Reserve
- 02FOMC calendars and meeting dates
Federal Reserve