Fed Rate Cut Dates 2024. After raising its key interest rate for nearly two years to tamp down growth and rising prices, economists expected the fed to cut the rate to bring it more in line with slowing. The federal reserve is expected to ultimately cut interest rates in 2024, but in a measured way and with action weighted toward the second half.

The fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years. Read more about the implications of the fed’s.