Rate Cuts For 2024. 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. The federal reserve cut interest rates for the first time in the biden era on wednesday after the white house spent the last three years grappling with americans’.

The federal open market committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, amid signs that. Financial markets have expected the first cut in march and five further reductions in 2024, while the fomc’s economic projections from december suggested.