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The Fed cut its federal funds rate — the interest rate banks charge each other for short-term loans — by 0.25 percentage points, lowered the rate to a range of 4.25% to 4.5%, down from its ...
The Federal Reserve is likely going to cut rates only twice this year, as inflation takes longer to slow than U.S. central bankers currently think, according to the 2024 interest rate forecast ...
The Fed’s new median rate projection for 2024 signals just one rate cut. After the Federal Reserve’s latest interest rate decision, you may be tempted to try and start connecting some dots.
Over a series of emergency meetings in March 2020, the Fed took the unprecedented step of slashing interest rates by 1.25 points, which brought rates to near-zero levels.
The new projection on Wednesday will come in the form of a so-called dot plot, a chart updated quarterly that shows each Fed official's prediction about the direction of the federal funds rate.
The national average rate for savings accounts will be 0.3 percent by the end of 2024, McBride forecasts, while predicting an average of 0.35 percent for money market accounts.