Federal Reserve officials maintained their outlook for three quarter-point rate cuts this year but forecast fewer cuts than before in 2025 following a recent uptick in inflation. Officials decided unanimously to leave the benchmark federal funds rate in a range of 5.25% to 5.5%, the highest since 2001, for a fifth straight meeting. Jon Ferro and Lisa Abramowicz host a special edition of "Bloomberg Surveillance" covering the Federal Reserve’s decision and reactions from Charles Schwab’s Kathy Jones, JPMorgan’s Priya Misra, KPMG’s Diane Swonk, BofA’s Michael Gapen, PGIM’s Robert Tipp, BlackRock’s Jeffrey Rosenberg, Queens’ College Cambridge President Mohamed El-Erian, and former President of Federal Reserve Bank of New York William Dudley.
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