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Gabe Whisnant is a Breaking News Editor at Newsweek based in North Carolina. Prior to joining Newsweek in 2023, he directed daily publications in North and South Carolina. As an executive editor, Gabe led award-winning coverage of Charleston church shooter Dylan Roof’s capture in 2015, along with coverage of the Alex Murdaugh double murder trial. He is a graduate of the University of North Carolina-Wilmington. You can get in touch with Gabe by emailing g.whisnant@newsweek.com. Find him on Twitter @GabeWhisnant.
Gabe Whisnant
Breaking News Editor
news article Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources.
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The Federal Reserve kept its benchmark interest rate unchanged on Wednesday while reaffirming expectations for two rate cuts this year, though a growing number of policymakers now anticipate fewer reductions.In its latest quarterly economic projections, the Fed lowered its growth outlook for 2024 and 2025, forecasting a slower economy than it projected three months ago. The central bank also expects the unemployment rate to rise to 4.4 percent and inflation to edge up to 2.7 percent by year’s end—both exceeding its 2 percent target.This is a developing news story and will be updated as more information is available.
On Wednesday, the Federal Reserve kept interest rates unchanged and said it sees slower economic growth and slightly higher inflation ahead this year.
On Wednesday, the Federal Reserve kept interest rates unchanged and said it sees slower economic growth and slightly higher inflation ahead this year.
