Summary
- The US Fed announced that it will slow down the pace of tapering from April.
- The GDP growth rate forecast was lowered from 2.1% to 1.7%.
- The Personal Consumption Expenditure (PCE) forecast was raised from 2.5% to 2.7%.
On the 19th (local time), the Federal Open Market Committee (FOMC) of the Federal Reserve System (Fed) announced that it will slow down the pace of tapering from April due to increased uncertainty in economic outlook.
The Fed explained, "We support maintaining the target range for the federal funds rate, but it is desirable to continue tapering at the current pace."
Furthermore, they adjusted some of their economic forecasts for 2025.
Meanwhile, they lowered the GDP growth forecast from 2.1% to 1.7%, raised the unemployment rate forecast from 4.3% to 4.4%, and raised the Personal Consumption Expenditure (PCE) forecast from 2.5% to 2.7%.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
