The Federal Reserve (Fed) has maintained its expected rates and policy rate projections, maintaining the steady pace of growth and inflation. However, the median projection shift was seen as a significant shift towards fewer projected rate cuts, with one policymaker suggesting a rate hike next year. This shift may force investors to reassess their 2026 outlook. The Fed's response to the recent oil shock has been cautious, with analysts suggesting that it may underestimate the impact of the disruption of energy supply disruption and $100 oil. Meanwhile, U.S. producer price inflation figures for February showed an increase of 3.9%, the highest in over a year, and the monthly headline rate accelerated for the fourth consecutive month.