The Federal Reserve announced that it will maintain high interest rates for the third consecutive meeting, as the US economy slows and rate cuts are anticipated for next year. The central bank has increased rates 11 times to combat high inflation, which has since slowed down. However, officials expect inflation to cool at a slightly faster pace than previously estimated. Some economists believe that the final stage of the Fed's inflation fight will be challenging, but the market predicts rate cuts in the near future. The Fed's latest projections show that more rate cuts are expected next year, which is positive for the housing market. There are various reasons why the Fed may cut rates, including economic downturn and inflation reaching the Fed's target. For now, there is hope for a soft landing where inflation returns to the Fed's target without a significant increase in unemployment. The US economy remains in a good state, with solid job market and positive growth, though retail sales have fallen recently. However, economists believe that achieving a soft landing is unlikely and expect below-trend growth, rising unemployment, and slowing wage growth in the coming year.
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