Fed targets three benchmark rate cuts in 2024

The U.S. Federal Reserve left the interest rate unchanged as expected by the market, in a range between 5.25 and 5.50 percent in what was its last monetary policy meeting of the year, and for 2024 three cuts of 25 basis points each are envisioned, according to the central bank's projections. In addition, the Federal Open Market Committee said it stands ready to…