Federal Reserve policymakers stick to rate cut roadmap

The ECB is expected to cut interest rates at least once before August, but Christine Lagarde remains vague on the timeline of any cuts

Federal Reserve chairman Jerome Powell. Picture: Jacquelyn Martin/AP

US financial regulator, the Federal Reserve, is staying on course to cut interest rates three times this year, according to new economic projections, but overall it remains cautious as inflation stays above the international target of 2%.

Nine of the Fed’s 19 policymakers see three quarter-point rate cuts this year, and nine see two or less.