Fed Rate Cuts 2024 September 2024. The fed's first interest rate cut since march 2020 lowers the benchmark federal funds rate to a range of 4.75% to 5%. Fed officials also penciled in more rate cuts by year’s end in their latest economic forecasts, compared to the single cut in 2024 that they projected in june.

The federal reserve lowered its benchmark interest rate by a half percentage point wednesday, an aggressive start to a policy shift aimed at bolstering the us labor market. The dying down of the clamor for a large rate cut, which reflects encouraging data on inflation, jobless claims and retail sales, could allow fed policymakers to proceed with their.