Yesterday, the Federal Open Market Committee (Fed) voted 11-1 to keep the benchmark federal funds rate anchored in a range between 3.5%-3.75%.

The policymakers are navigating their way through higher-than-expected inflation readings, mixed signs on the labor market and a war.

In its post-meeting statement, the Fed made few changes to its view on the economy, with a slightly faster pace of growth and higher inflation projections for the full year.

In updates to their economic projections, Fed officials see gross domestic product increasing at a 2.4% pace this year, a bit faster than in December. Growth is projected to progress at a solid 2.3% rate in 2027, up three-tenths of a percentage point from the previous outlook.

source: cnbc.com