The Fed holds interest rates steady and forecasts two rate cuts for 2025

Investors were treated to another predictable Fed meeting. Interest rates remained the same, which had been all but a certainty in the lead-up to Wednesday’s decision. The Federal Reserve maintained its position that the economy was stable, even as uncertainty among participants was rising.

Investors and business leaders might feel as though the economy is teetering on a knife’s edge, but the data, Fed chair Jerome Powell reassured them, pointed to a solid picture—though one that was cloudier than before.