The upcoming FOMC meeting on March 19-20, 2024, is highly anticipated, with the Fed expected to maintain interest rates at 5.25%-5.50%. Recent high inflation reports have led to reduced expectations for a June rate cut, with a 60% chance now predicted. Former St. Louis Fed President James Bullard advocates for earlier rate cuts to avoid economic damage. Bank of America's Michael Hartnett points out that tolerating higher inflation could weaken policy credibility. Despite recent inflation upticks, economists expect the Fed to stick to its plan of three rate cuts in 2024. Some experts, however, believe the Fed might delay or reduce the number of rate cuts due to stronger-than-expected economic performance.