Major brokerages maintained their predictions for a slower pace of interest rate cuts by the U.S. Federal Reserve after the central bank kept its benchmark interest rate unchanged.
The Fed left its benchmark overnight interest rate in the 4.25-4.50% range, with Chair Jerome Powell noting that current uncertainty is "unusually elevated." He cited challenges in making new economic projections due to recent policy changes from the Trump administration.
Analysts also forecast slower economic growth and higher inflation.
Currently, traders expect two rate cuts of 25 basis points each for the year, according to data compiled by LSEG. The Federal Open Market Committee (FOMC) is scheduled to meet again on May 6-7.
Here are the forecasts from major brokerages following the March meeting: