Quick overview of the Federal Reserve's interest rate decision on March 18th.

1. The Federal Reserve will continue to keep the target range for the federal funds rate unchanged at 3.50% to 3.75%, maintaining the median expectation of one rate cut this year. 2. The voting result was 11 to 1, with board member Stephen Milan voting against and calling for a 25 basis point rate cut. 3. The statement removed the mention from January about signs of stabilization in the labor market, replacing it with "the unemployment rate has changed little in recent months." 4. It is expected that there will be one rate cut each in 2026 and 2027, with no policymakers indicating a preference for raising rates this year. 5. The median expectation in the dot plot for interest rates remained unchanged, with the ratio of officials supporting rate cuts versus no rate cuts still at 12:7. The median in the long-term dot plot for interest rates was raised to 3.1%. 6. The assessment of the economic outlook in the post-meeting statement was barely adjusted, with a slight upward revision in the economic growth and inflation expectations for 2026. The economic growth expectation for 2026 was slightly raised from December's prediction of 2.3% to 2.4%, and the core PCE inflation expectation median was raised from 2.5% to 2.7%. 7. The statement noted that the impact of the developments in the Middle East on the US economy is still uncertain, and could potentially keep inflation persistently above the Fed's 2% target.