 Fed holds interest rates steady, still sees two cuts coming this year.
WASHINGTON – The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year.
Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December. Markets had been pricing in virtually zero chance of a move at this week’s two-day policy meeting.
Along with the decision, officials updated their rate and economic projections for this year and through 2027 and altered the pace at which they are reducing bond holdings.
Despite the uncertain impact of President Donald Trump’s tariffs as well as an ambitious fiscal policy of tax breaks and deregulation, officials said they still see another half percentage point of rate cuts through 2025. The Fed prefers to move in quarter percentage point increments, so that would mean two reductions this year.
Investors took encouragement that further cuts could be ahead, with the Dow Jones Industrial Average rising more than 400 points following the decision. However, in a news conference, Federal Reserve Chair Jerome Powell said the central bank would be comfortable keeping interest rates elevated if conditions warranted it.
“If the economy remains strong, and inflation does not continue to move sustainably toward 2%, we can maintain policy restraint for longer,” he said. “If the labor market were to weaken unexpectedly, or inflation were to fall more quickly than anticipated, we can ease policy accordingly.” |
Russian Offensive On Zaporozhie Front Covers Zelensky’s Trump Card Of Rare Metals
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he Armed Forces of the Russian Federation do not stop developing their offensive on the Zaporozhie frontlines. Their active offensive operations increase pressure on the military positions of the Armed Forces of Ukraine and expand their tactical success in the area of the villages of Stepovoye and Shcherbaky.
Since the recent beginning of offensive, the 4th battalion of the 247th regiment of the Russian army first took control of Pyatikhatki, and the 2nd battalion entered Stepovoye located to the north. On March 17th, the Ministry of Defense of the Russian Federation officially confirmed the full control of the village of Stepovoe.
Russian Offensive On Zaporozhie Front Covers Zelensky's Trump Card Of Rare Metals
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After their victory in Stepovoe, the assault units of the Russian Dnepr group of forces advanced towards the village of Lobkovoe located north of Pyatikhatki. Taking into account Russian control of Stepovoe and Kamenskoe, the garrison of the Armed Forces of Ukraine deployed in Lobkovoe is forced to resist in a cauldron. Ukrainian forces will be forced to retreat from the village to the north through the fields under heavy Russian fire and flank attacks. Moreover, there is a chain of lakes north of Lobkovoe between Kamenskoe and Stepovoe, which complicate any manoeuvres of the Ukrainian military. The advancing Russian troops are expected to destroy the cauldron in Lobkovoe and straighten the front in the nearest future.
Russian offensive is also ongoing east of Stepovoe, where the Russian troops took control of the strategically important T0812 road to Malye Shcherbaky, heavily complicating Ukrainian logistics.
According to preliminary reports, the Armed Forces of Ukraine were repelled from both Scherbaky and Malye Scherbaky, where the mop up operations are ongoing.
The frontline from Kamenskoe to Shcherbaky runs along the road to one of the main Ukrainian strongholds in the Zaporozhie region, the town of Orekhov; and Russian advance destroyed the entire western flank of Ukrainian defense there.
The resumption of Russian offensive operations on the southern Zaporozhie frontlines also bring important political victory to Moscow amid the ongoing negotiation process. Russian control of the areas near Pyatikhatky, Stepovoe and Scherbaky confirm that a large part of the Greater Tokmak (Bolshetokmakskoye) manganese deposits also came under Russian control. The Russian army captured about 20 square kilometers of the large fields located around the town of Stepnogorsk during the past week alone. While Zelensky is trying to thwart the ongoing negotiations between Moscow and Washington with different provocations LINK, LINK, he is losing more and more bargaining chips, and his trump card of rare metals is getting weaker.
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Russian forces strike oil industry facilities used for Ukrainian army’s needs
Russia’s Battlegroup West inflicted roughly 205 casualties on Ukrainian troops and destroyed three enemy armored combat vehicles in its area of responsibility over the past day, the Defense Ministry reported
MOSCOW, March 18. /TASS/. Russian forces struck oil industry facilities used for the Ukrainian army’s needs over the past day in the special military operation in Ukraine, Russia’s Defense Ministry reported on Tuesday.
"Operational/tactical aircraft, attack unmanned aerial vehicles, missile troops and artillery of the Russian groups of forces struck oil industry facilities supporting the operation of Ukraine’s armed forces, military airfield infrastructure, the sites for storing and using unmanned aerial vehicles and massed manpower and equipment of Ukrainian armed formations in 146 areas," the ministry said in a statement.
Russia’s Battlegroup North inflicts over 35 casualties on Ukrainian army in Kharkov area
Russia’s Battlegroup North inflicted more than 35 casualties on Ukrainian troops and destroyed an enemy electronic warfare station in its area of responsibility in the Kharkov Region over the past day, the ministry reported.
"Battlegroup North units operating in the Kharkov direction inflicted losses on formations of a mechanized brigade of the Ukrainian army near the settlement of Volchansk in the Kharkov Region," the ministry said.
The Ukrainian army lost more than 35 personnel, four motor vehicles and a field artillery gun in that frontline area over the past 24 hours, it specified.
In addition, Russian forces destroyed an electronic warfare station of the Ukrainian army, it said.
Russia’s Battlegroup West inflicts 205 casualties on Ukrainian army in past day
Russia’s Battlegroup West inflicted roughly 205 casualties on Ukrainian troops and destroyed three enemy armored combat vehicles in its area of responsibility over the past day, the ministry reported.
"Battlegroup West units improved their tactical position and inflicted losses among manpower and equipment of three mechanized brigades and an assault brigade of the Ukrainian army and a territorial defense brigade in areas near the settlements of Malaya Shapkovka, Monachinovka, Radkovka, Shiykovka and Proletarskoye in the Kharkov Region," the ministry said.
The Ukrainian army lost an estimated 205 personnel, three armored combat vehicles, including a US-made M113 armored personnel carrier, five pickup trucks, four artillery guns, among them two NATO weapons, an ammunition depot and three electronic warfare stations in that frontline area over the past 24 hours, it specified.
Russia’s Battlegroup South inflicts over 200 casualties on Ukrainian army in past day
Russia’s Battlegroup South inflicted more than 200 casualties on Ukrainian troops and destroyed two enemy armored fighting vehicles in its area of responsibility over the past day, the ministry reported.
"Battlegroup South units gained better lines and positions and inflicted losses on formations of a mechanized brigade, an infantry brigade and an airmobile brigade of the Ukrainian army in areas near the settlements of Seversk, Shcherbinovka and Ivanopolye in the Donetsk People’s Republic," the ministry said.
The Ukrainian army lost more than 200 personnel, two armored combat vehicles and three motor vehicles in that frontline area over the past 24 hours, it specified.
Russia’s Battlegroup Center inflicts over 440 casualties on Ukrainian army in past day
Russia’s Battlegroup Center inflicted more than 440 casualties on Ukrainian troops and destroyed four enemy armored combat vehicles in its area of responsibility over the past day, the ministry reported.
"Battlegroup Center units kept advancing deep into the enemy’s defenses and inflicted losses on formations of three mechanized brigades, an assault brigade of the Ukrainian army, a marine infantry brigade and a National Guard brigade in areas near the settlements of Krasnoarmeisk, Mirolyubovka, Novoaleksandrovka, Udachnoye, Uspenovka, Dimitrov and Shevchenko in the Donetsk People’s Republic," the ministry said.
The Ukrainian army lost more than 440 personnel, four armored combat vehicles, including two US-made M113 armored personnel carriers, six motor vehicles and three artillery guns in that frontline area over the past 24 hours, it specified.
Russia’s Battlegroup East inflicts over 145 casualties on Ukrainian army in past day
Russia’s Battlegroup East inflicted more than 145 casualties on Ukrainian troops and destroyed five enemy artillery guns in its area of responsibility over the past day, the ministry reported.
"Battlegroup East units inflicted casualties in active operations on formations of a motorized infantry, an airmobile brigade of the Ukrainian army and a territorial defense brigade in areas near the settlements of Bogatyr, Komar and Otradnoye in the Donetsk People’s Republic," the ministry said.
The Ukrainian army lost more than 145 personnel, two armored combat vehicles, two motor vehicles, five field artillery guns, including a US-made 155mm Paladin self-propelled artillery system and a Polish-manufactured 155mm Krab self-propelled artillery gun in that frontline area over the past 24 hours, it specified.
Russia’s Battlegroup Dnepr inflicts 70 casualties on Ukrainian army in past day
Russia’s Battlegroup Dnepr inflicted roughly 70 casualties on Ukrainian troops and destroyed an enemy ammunition depot in its area of responsibility over the past day, the ministry reported.
"Battlegroup Dnepr units inflicted damage on manpower and equipment of two coastal defense brigades of the Ukrainian army in areas near the settlements of Novodanilovka and Kamenskoye in the Zaporozhye Region and Tokarevka in the Kherson Region," the ministry said.
"As many as 70 [Ukrainian] servicemen, three motor vehicles and an ammunition depot were destroyed," it said.
Russian air defenses down 117 Ukrainian UAVs, five JDAM smart bombs over past day
Russian air defense forces shot down 117 Ukrainian unmanned aerial vehicles (UAVs) and five JDAM smart bombs over the past day, the ministry reported.
"Air defense capabilities shot down five JDAM guided aerial bombs and a rocket of the HIMARS multiple launch rocket system of US manufacture and 117 fixed-wing unmanned aerial vehicles," the ministry said.
Overall, the Russian Armed Forces have destroyed 658 Ukrainian warplanes, 283 helicopters, 47,211 unmanned aerial vehicles, 601 surface-to-air missile systems, 22,314 tanks and other armored combat vehicles, 1,529 multiple rocket launchers, 22,638 field artillery guns and mortars and 33,012 special military motor vehicles since the start of the special military operation, the ministry reported. |
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