The Federal Open Market Committee (FOMC) concluded its meeting on March 20, 2024, with several key outcomes. The committee decided to leave interest rates unchanged, marking the fifth consecutive meeting without a rate change, and there were no dissents among the members. Despite this, the FOMC signaled the possibility of three interest rate cuts in 2024, totaling 75 basis points (BPS), maintaining the median federal funds rate forecast at 4.6%. The core Personal Consumption Expenditures (PCE) inflation forecast for 2024 was revised upwards to 2.6% from 2.4%, indicating a slight increase in expected inflation. Additionally, the GDP growth forecast for 2024 was raised to 2.1% from 1.4%, reflecting a more optimistic economic outlook. The unemployment rate projection was slightly adjusted to 4.0% from 4.1%. Moreover, the median long-term policy rate projection was increased to 2.6% from 2.5%, suggesting a shift towards a higher for longer interest rate environment. The FOMC's decisions and projections indicate a cautious approach to monetary policy amid changing economic conditions.