The Fed meeting was today, and as expected, the Fed decided to keep the Fed Rate unchanged. The Fed also released its dot-plot forecasting just 50 bps of cuts in 2025—with 4 Fed officials who see no cuts at all, up from 1 in December.

Powell stated that Inflation is “somewhat elevated” and lowered the 2025 growth projections.

The odds of a cut before June are under 20%, per Kalshi.

Mortgage rates improved slightly after the Fed announcement, with the national average 30-year mortgage rate now at 6.76%