Us Fed Interest Rate Cut 2024

Us Fed Interest Rate Cut 2024. 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. In the face of slowing inflation and strong consumer spending, the federal reserve announced that it will keep the interest rate steady, holding the benchmark borrowing.

Here’s a look at how the 50 basis point interest rate cut will affect your payments, based on loan or credit type, according to bankrate: Interest rates will drop by.