Fed Signals Half-Point Rate Cut Before 2024 Ends, Confirms Gradual Rate Cuts Reaching 2.9% by 2026

Benzinga
Benzinga
  • 10 hours ago
The Federal Reserve signaled a potential half-point interest rate cut before the end of 2024, with two meetings scheduled in November and December. The Fed's dot plot indicated the benchmark fed funds rate will fall to 4.4% by year-end, with further cuts projected in 2025 and 2026. Interest rates will reach 3.4% in 2025 and 2.9% by 2026. The Fed expressed increased confidence that inflation is steadily approaching 2%, with risks to its employment and inflation targets seen as balanced.

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