Rate Cuts 2024 Us. Wall street’s benchmark index hit its highest in almost two years after federal reserve chair jay powell sent his clearest signal that the us central bank would begin cutting rates in 2024 and. The fed’s quarterly release of its summary of economic projections strongly supports the idea that the economy is likely to avoid a recession and that rate cuts are coming in 2024 as inflation recedes toward the fed’s 2% target.
At the september 2024 federal open market committee (fomc) meeting, the federal reserve (fed) lowered interest rates by 50 basis points, easing monetary policy for the first time in four. The central bank cuts its benchmark overnight right to a 4.5% to 4.75% range at a meeting last week.