the Fed (US Federal Reserve)Měi Lián Chǔ美联储March3 yuè3月to maintainwéichí维持interest ratelìlǜ利率unchangedbùbiàn不变，to signal / hintànshì暗示within the yearnián nèi年内still remainsréng yǒu仍有one (instance)yīcì一次interest rate cutjiàng xī降息room forkōngjiān空间。
the Fed (US Federal Reserve)
Měi Lián Chǔ
美联储
March
3 yuè
3月
to maintain
wéichí
维持
interest rate
lìlǜ
利率
unchanged
bùbiàn
不变
to signal / hint
ànshì
暗示
within the year
nián nèi
年内
still remains
réng yǒu
仍有
one (instance)
yīcì
一次
interest rate cut
jiàng xī
降息
room for
kōngjiān
空间
United States
Měiguó
美国
Federal Reserve Board
Liánbāng Chǔbèi Wěiyuánhuì
联邦储备委员会
on (a date)
yú
于
March 18
3 yuè 18 rì
3月18日
to decide
juédìng
决定
to maintain
wéichí
维持
federal funds
liánbāng jījīn
联邦基金
interest rate
lìlǜ
利率
at
yú
于
3.5 percent
bǎifēnzhī sān diǎn wǔ
3.5%
to
zhì
至
3.75 percent
bǎifēnzhī sān diǎn qī wǔ
3.75%
range / band
qūjiān
区间
unchanged
bùbiàn
不变
this is
zhè shì
这是
consecutive
liánxù
连续
second (time)
dì èr cì
第二次
to pause / suspend
zàntíng
暂停
interest rate cut
jiàng xī
降息
the Fed
Měi Lián Chǔ
美联储
to revise upward
shàngtiáo
上调
completion marker
le
了
inflation
tōngzhàng
通胀
expectations
yùqī
预期
and / also
bìng
并
to (action marker)
jiāng
将
the Middle East
Zhōngdōng
中东
situation
júshì
局势
to regard as
shì wéi
视为
main / major
zhǔyào
主要
downward
xiàxíng
下行
risk
fēngxiǎn
风险
but
dàn
但
dot plot (rate projection chart)
diǎnzhèn tú
点阵图
still
réng
仍
to signal / forecast
yùshì
预示
within the year
nián nèi
年内
there will be
yǒu
有
one (instance)
yīcì
一次
interest rate cut
jiàng xī
降息
March 18, 2026 at 8:00 PM
United States
Měiguó
美国
Federal Reserve Board
Liánbāng Chǔbèi Wěiyuánhuì
联邦储备委员会
on (a date)
yú
于
March 18
3 yuè 18 rì
3月18日
to hold (a meeting)
jǔxíng
举行
within the year
nián nèi
年内
second (time)
dì èr cì
第二次
interest rate deliberation
yì xī
议息
meeting
huìyì
会议
by (a vote count)
yǐ
以
11 to 1
shíyī bǐ yī
11比1
structural particle
de
的
vote count
piàoshù
票数
to decide
juédìng
决定
to maintain
wéichí
维持
federal funds
liánbāng jījīn
联邦基金
interest rate
lìlǜ
利率
target range
mùbiāo qūjiān
目标区间
at
yú
于
3.5 percent
bǎifēnzhī sān diǎn wǔ
3.5%
to
zhì
至
3.75 percent
bǎifēnzhī sān diǎn qī wǔ
3.75%
unchanged
bùbiàn
不变
this is
zhè shì
这是
the Fed
Měi Lián Chǔ
美联储
consecutive
liánxù
连续
second time
dì èr cì
第二次
meeting
huìyì
会议
to choose
xuǎnzé
选择
to hold steady / make no move
àn bīng bù dòng
按兵不动
with / in line with
yǔ
与
market
shìchǎng
市场
mainstream
zhǔliú
主流
expectations
yùqī
预期
to maintain
bǎochí
保持
consistent / aligned
yīzhì
一致
statement
shēngmíng
声明
to point out
zhǐchū
指出
United States
Měiguó
美国
economic
jīngjì
经济
activity
huódòng
活动
still / continuing to
réng zài
仍在
at / with
yǐ
以
solid / steady
wěnjiàn
稳健
pace
bùfá
步伐
to expand
kuòzhāng
扩张
employment
jiùyè
就业
market
shìchǎng
市场
stable
wěndìng
稳定
but
dàn
但
inflation
tōngzhàng
通胀
level
shuǐpíng
水平
still / as before
yīrán
依然
slightly
lüè
略
higher than
gāoyú
高于
target
mùbiāo
目标
the Fed
Měi Lián Chǔ
美联储
at the same time
tóngshí
同时
to revise upward
shàngtiáo
上调
completion marker
le
了
the year 2026
2026 nián
2026年
structural particle
de
的
inflation
tōngzhàng
通胀
forecast
yùcè
预测
to (action marker)
jiāng
将
personal consumption expenditure (PCE)
gèrén xiāofèi zhīchū
个人消费支出
price index
jiàgé zhǐshù
价格指数
increase / rise
zhǎngfú
涨幅
forecast
yùqī
预期
from
cóng
从
2.4 percent
bǎifēnzhī èr diǎn sì
2.4%
revised upward to
shàngtiáo zhì
上调至
2.7 percent
bǎifēnzhī èr diǎn qī
2.7%
at the same time / meanwhile
yǔ cǐ tóngshí
与此同时
the Fed
Měi Lián Chǔ
美联储
to (action marker)
jiāng
将
the year 2026
2026 nián
2026年
gross domestic product
GDP
GDP
growth
zēngzhǎng
增长
forecast
yùqī
预期
slightly / marginally
xiǎofú
小幅
revised upward to
shàngtiáo zhì
上调至
2.4 percent
bǎifēnzhī èr diǎn sì
2.4%
but
dàn
但
to emphasize
qiángdiào
强调
the Middle East
Zhōngdōng
中东
situation
júshì
局势
to bring / create
dài lái
带来
structural particle
de
的
uncertainty
bù quèdìngxìng
不确定性
remains / still is
réng shì
仍是
main / major
zhǔyào
主要
risk
fēngxiǎn
风险
interest rate
lìlǜ
利率
dot plot (rate projection chart)
diǎnzhèn tú
点阵图
to show / indicate
xiǎnshì
显示
majority
duōshù
多数
officials
guānyuán
官员
to expect / project
yùjì
预计
this year
jīnnián
今年
still / there remains
réng yǒu
仍有
one (instance)
yīcì
一次
interest rate cut
jiàng xī
降息
the year 2027
2027 nián
2027年
again / once more
zài
再
to lower / cut
jiàng
降
one (instance)
yīcì
一次
analysts
fēnxī rénshì
分析人士
to point out
zhǐchū
指出
the Middle East
Zhōngdōng
中东
conflict
chōngtū
冲突
to trigger / cause
yǐnfā
引发
structural particle
de
的
oil price
yóujià
油价
to surge
biāoshēng
飙升
may / possibly
kěnéng
可能
to extend / prolong
yáncháng
延长
the Fed
Měi Lián Chǔ
美联储
to maintain
wéichí
维持
high interest rates
gāo lìlǜ
高利率
structural particle
de
的
time / period
shíjiān
时间
market
shìchǎng
市场
regarding
duì
对
interest rate cut
jiàng xī
降息
timing
shíjiān
时间
structural particle
de
的
expectations
yùqī
预期
currently
zhèngzài
正在
to be pushed back / delayed
tuīhòu
推后
News in English
BusinessFederal Reserve Holds Rates Steady for Second Straight Meeting, Signals One Cut in 2026
The US Federal Reserve voted 11-1 on March 18 to hold the federal funds rate steady in the 3.5 to 3.75 percent range for a second consecutive meeting. The Fed revised its inflation forecast upward while flagging Middle East instability as a key downside risk, though its dot plot still projected one rate cut later in 2026.
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