Fed Rate Cut News 2024 Newspaper. Fed officials also penciled in more rate cuts by year’s end in their latest economic forecasts, compared to the single cut in 2024 that they projected in june. The federal reserve (fed) cut interest rates for the first time in over four years, moving its benchmark rate 0.50% lower to support the labor market, while working toward its.

However, when the fed lowers rates, the relief for borrowers is slower and less noticeable, making rate hikes more immediately impactful than rate cuts. With inflation easing, the federal reserve announced a 50 basis point cut to its benchmark interest rate on wednesday — the first reduction in borrowing costs since march.