Will the Federal Reserve lower interest rates? It’s a matter of when, not if, according to the central bank. But the Fed has indicated that consumers shouldn’t expect any cuts until at least the spring.
To combat ongoing inflation, it raised the federal funds rate 11 times between March 2022 and July 2023. After its December 2023 session, the Fed forecasted it would make three quarter-point cuts by the end of 2024 to lower the benchmark rate to 4.6%.
Prices have started to come down, but the group has signaled it wants to see more positive data before pulling the trigger. CLICK for article.
