Gold topped $2,200 an ounce for the first time after the Federal Reserve maintained its outlook for three quarter-point rate cuts this year, with Chair Jerome Powell saying it’s appropriate to start easing “at some point this year.” Policymakers kept their outlook for the cuts in 2024 and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation. While Powell continued to highlight officials would like to see more evidence that prices are coming down, he also said it will be appropriate to start easing “at some point this year.” A lower interest rate ... (full story)