Fed Lowering Interest Rates 2024. With both the jobs picture and inflation softening, the central bank’s federal open market committee chose to lower its key overnight borrowing rate by a half percentage point,. As widely expected, the federal reserve lowered its benchmark interest rate on thursday, which will make it a bit cheaper to borrow money via credit cards, loans and auto.
That would reflect a full percentage point cut. Federal reserve officials expressed confidence that inflation is easing and the labor market is strong, allowing for further interest rate cuts albeit at a gradual pace, according.
