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Page 3 of 6 <br />neutral range. The Federal Reserve’s March dot plot still projects one cut this year, yet the <br />Iran-driven energy shock has narrowed the path toward easing. The Federal Reserve’s March <br />2026 FOMC meeting ended with policymakers again holding the target range at 3.50%–3.75%, <br />as the Committee maintained its pause following three late-2025 rate cuts. <br /> <br />Securities rated below "AA-/AA3" <br />Table 2. Securities rated below "AA-/AA3" <br /> <br /> <br />Purchases, Maturities, and Sales <br />Page 261 of 908