Fed Rate Cut 2024. The federal reserve cut interest rates by a quarter of a percentage point on thursday as policymakers took note of a job market that has generally eased while inflation. The fed is expected to cut its benchmark rate to a range of 4.25% to 4.5% at its december meeting.

The federal reserve announced the first interest rate cut in four years at its september policy meeting amid progress in slowing down the pace of inflation toward its 2% goal. 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.