The Fed pencils in 1 (maybe 2) interest rate cuts in 2024. But when?

The Federal Reserve decided to hold interest rates steady at 5.25-5.5% today. That's the highest level we've seen in more than 20 years and it's been that high for almost a year. Because of the stubbornly high inflation we've been seeing in 2024, the Fed has revised its projections for rate cuts. Instead of three rate cuts in 2024, the Fed is predicting there will only be ONE rate cut this year. But why? This video explains.