Federal Reserve may shed light on prospects for rate cuts in 2024 while keeping key rate unchanged

Will the Federal Reserve cut its key interest rate sometime next year — and, if so, by how much? Wall Street investors have been obsessed with such questions since a top Fed official hinted last month that rate cuts were at least possible as early as March. When its latest policy meeting ends Wednesday, the Fed will provide some highly anticipated hints about the extent of rate cuts next year. In the meantime, it’s set to leave its benchmark rate unchanged for the third straight time. The Fed’s 19-member policy committee will also issue its quarterly economic projections, which include estimates of unemployment, inflation and growth over the next three years.