Fed Rate Cuts 2024 Announcement . The federal reserve announced at its may 2024 federal open market committee (fomc) meeting that it would maintain the overnight federal funds rate at. 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 fed now projects just one rate cut in 2024, down from multiple ones in its previous projection. The federal reserve is expected to ultimately cut interest rates in 2024, but in a measured way and with action weighted toward the second half.
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