#FOMCMeeting FOMC Holds Rates Steady, Signals Caution on Inflation**

The Federal Reserve kept interest rates unchanged at the June FOMC meeting, maintaining the target range at 5.25%-5.50%. Officials acknowledged "modest further progress" on inflation but emphasized the need for greater confidence before cutting rates. The updated dot plot showed just one rate cut projected for 2024, down from three in March. Chair Powell noted that while the labor market remains strong, inflation risks persist, requiring a cautious approach. Markets reacted with slight volatility as expectations shifted toward a later easing cycle. The Fed will continue monitoring economic data, with future decisions dependent on inflation trends and employment conditions. No firm timeline for rate cuts was provided.