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。
March 18, 2026 at 8:00 PM
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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.
The Federal Reserve Board held its second interest rate decision meeting of the year on March 18th. With a vote of 11 to 1, it decided to maintain the federal funds interest rate target range at 3.5% to 3.75% unchanged.
This is the Federal Reserve's second consecutive meeting choosing to hold steady, aligned with mainstream market expectations.
The statement pointed out that the United States economic activity continues to expand at a solid pace, the employment market remains stable, but inflation levels still remain slightly higher than target.
The Fed also revised upward the 2026 inflation forecast, with the personal consumption expenditure price index increase expected to rise from 2.4% to 2.7%.
Meanwhile, the Fed slightly revised upward the 2026 GDP growth forecast to 2.4%, but emphasized that Middle East situation uncertainty remains a major risk.
The dot plot shows that the majority of officials still expect one interest rate cut this year and another cut in 2027.
Analysts pointed out that Middle East conflict-driven oil price surges may extend the period the Fed maintains high interest rates, with market expectations for interest rate cuts being pushed back.
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