Fed Interest Rate Cut 2024 . Speaking at stanford university in california this week, fed board member christopher waller said strong economic activity could put a pin in further rate reductions. The fed's first interest rate cut since march 2020 lowers the benchmark federal funds rate to a range of 4.75% to 5%.
Her comments come at a time when fed officials are contemplating how much and how quickly to lay off the economic brakes. Federal reserve chair jerome powell details why the fomc cut interest rates by 50 basis points to a new range of 4.75% to 5%.
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The Relationship Between Mortgage Rates and the Fed Funds Rate ADM , Additionally, the fed updated its summary of economic projections, raising the annual growth in gross domestic product to 2.6% this year from 2.1% earlier.