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All three major US indexes soar to new records

after the Fed holds rates steady.

And what's happening at the southern border

with a Texas immigration law on hold?

We're at the point now where we have been

for the last 150 years of the federal government still being in charge of federal

border enforcement. Plus why Wall Street is investing in law firms in Arizona? It's

Wednesday March 20th. I'm Anne Marie Fertoli with the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

After a two-day policy meeting, Federal Reserve officials didn't significantly change their economic outlook. Most officials penciled in three rate cuts this year in their new projections.

Still, some officials expect fewer cuts this year in their new projections. Still some officials expect fewer

cuts this year than they did back then. So with that in mind back to a question we've

asked a bunch of times this year and we know Wall Street is waiting, are we still

on track for these cuts and when?

I asked our chief economics commentator Greg Ip.

We are still on track for rate cuts this year and going into Wednesday's Federal Reserve

meeting investors thought that June was the

likeliest month that the Fed would start cutting rates. Coming out of the

meeting, they still think June is the most likely. In their projections, Fed officials

said they still see three-quarter point rate cuts this year.

...