#FOMCMeeting The Federal Open Market Committee (FOMC or the Committee) left the federal funds rate unchanged at 4.25% – 4.50%, continuing a pause on the interest-rate-cutting cycle that started in September. The Committee stated that uncertainty around the economic outlook has increased. The Summary of Economic Projections shows a decrease in gross domestic product (GDP) growth expectations while also showing an increase in inflation expectations for 2025. The Federal Reserve (Fed) will slow the pace of decline of its securities holdings beginning in April. It will reduce its holdings of U.S. Treasury securities to just $5 billion per month down from $25 billion currently. The monthly redemption cap on agency mortgage-backed securities will remain unchanged at $35 billion.