From the Desk of Rick Dennen: Growth over Gridlock

March 20, 2024 — Today, the Federal Reserve Board announced that the federal funds rate will remain at 5.25%-5.50%, making this the 5th straight FOMC meeting without a rate hike or rate cut. At this time, analysts anticipate the initial rate cut may occur over the summer, and additional cuts are anticipated. We will likely see approximately three rate cuts by the end of 2024, and continued rate cuts thereafter.