Federal Reserve keeps key interest rate, signals just one cut is expected before year's end

The Federal Reserve on Wednesday kept its key interest rate but signaled one cut is expected before the end of the year.

The announcement was made at the end of the Federal Open Market Committee policymakers' routine two-day meeting 

Recently released forecasts show only slight optimism about inflation remains on track to falls to the Fed’s targeted 2% goal.

The annualize rate for May was 3.3%, the Bureau of Labor Statistics announced Wednesday.