Fed Rate Cut In 2024. In a decisive move to adjust monetary policy, the federal reserve announced a significant interest rate cut of 50 basis points during its meeting on 18 september 2024. The federal reserve on thursday announced its second interest rate cut of 2024, trimming its benchmark rate by 0.25 percentage points amid cooling inflation.
The fed is expected to cut its benchmark rate to a range of 4.25% to 4.5% at its december meeting. Following a meeting of the federal open markets committee, powell announced that the fed left interest rates unchanged at about 5.3 percent, but suggested it may cut rates.