Interest Rate Cuts 2024 News. The federal reserve on wednesday left its benchmark interest rate unchanged and penciled in only one rate cut in 2024 as policymakers await more. Itโs almost certain the federal reserve will unveil its first rate cut since 2020 at 2 p.m.
The federal reserve left its key interest rate unchanged at between 5.25% and 5.5% โ the highest level in more than a decade โ as annual inflation rates. The sharp interest rate hikes of the past two years will likely take longer than previously expected to bring down inflation, several federal reserve officials have.