Fed Rate Cut September 2024 Olympics. The fed is finally cutting rates, but banks aren’t in the clear just yet. The pace of hiring picked up strongly in september and the unemployment rate ticked down to 4.1%, signs the economy had continued momentum.
At the september 2024 federal open market committee (fomc) meeting, the federal reserve (fed) lowered interest rates by 50 basis points, easing monetary policy for the first time in four years due to progress on the fed’s dual mandate. The federal reserve will lower interest rates by 25 basis points at each of the u.s.