Fed Rate Cut News 2024 Today News. The federal reserve on wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease. The fed's economic projections show that fomc members are pegging the median 2024 federal funds rate at 4.4%.
Federal reserve officials said wednesday that while there are signs the economy is slowing, the fed was not yet ready to cut its key interest rate. The federal reserve lowered its key interest rate by a hefty half percentage point wednesday, moving ahead with its first rate cut in four years and cheering markets that.