Perspectives

  • The Fed Report: March 2025

    • The FOMC maintained the target range for the federal funds rate at 4.25-4.50% in a unanimous decision at its second meeting of 2025.
    • There was no change to the dot plot of rate projections from the December meeting, which continues to show two quarter-point cuts this year.
    • The FOMC reduced the pace of runoff of its Treasury holdings from $25 billion per month to $5 billion per month beginning in April while maintaining Agency debt and Agency MBS runoff at a pace of up to $35 billion per month.
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