Fast Fed reaction, Broadcom's AI add, plus pushback on the cost of obesity drugs

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Rapid Fed reaction: The federal funds rate of 5.25% to 5.50% was left unchanged as expected. The Fed median projection for GDP growth in 2024 increased to 2.1% from 1.4% in December, while the unemployment rate projection ticked down to 4.0% and the core PCE inflation projection bumped up to 2.6% from 2.4%.

Federal Reserve Chairman Jerome Powell prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on March, 7 2024.Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

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Broadcom Shares Retreat Despite Raised AI Revenue ForecastI have covered the technology sector for 25 years. Since 2003, I have been the managing editor of Tech-Stock Prospector, a monthly publication offering research and analysis on small- and large-cap companies. Prior to that, I analyzed the technology industry as senior writer for Louis Rukeyser's Wall Street newsletter.
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