US Fed hints at rate cuts later this year: Top takeaways from June meeting

The Fed officials have lowered inflation projection from 1.8 per cent to 1.5 per cent for the year and they also expect to miss their 2 per cent target next year as well.

The US Federal Reserve kept the policy rate unchanged in the range of 2.25 - 2.50 per cent in its June monetary policy meet that concluded on Wednesday but hinted at possible rate cuts later this year for the first time in more than a decade if the economic outlook weakens. 

The FOMC (Federal Open Market Committee) also dropped "patient" stance citing risks to economic growth.

Following the policy announcement, the US stocks ended in the green with the S&P 500 approaching a record high. The Dow Jones Industrial Average rose 0.15 per cent to end at 26,504.27 points, while