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The FOMC cut rates by 25 basis points. They drew back on their easing bias somewhat by removing "downside risks to growth remain" from its statement, but left no sign of a future pause to the interest rate cuts. Fisher and Plosser dissented, preferring no change. Official statement: March 18, 2008 2.25% 2.50% 8–2
The Fed cut its benchmark rate three times last year, kicking off with a jumbo 0.5 percentage point reduction in September. That was followed by two consecutive 0.25 percentage point cuts: ...
That's marks a sharp reversal from September, when the Fed cut rates for the first time since 2020, kicking off what was thought to be an easing cycle that would extend well into 2025.
The Federal Reserve wrapped up its final policy meeting of 2024 with a quarter-point rate cut, marking the year's third reduction after September's half-point cut and November's quarter-point ...
Credit card rates only down slightly since last Fed cut Just before the Fed announced a 50 basis point rate decrease on Sept. 18, the average credit card rate was 20.78 percent (1 basis point shy ...
The Federal Reserve on Wednesday moved to lower its benchmark rate by 0.25 percentage points, but said it plans fewer cuts in 2025. Fed lowers rates by 0.25 percentage point, but expects fewer ...
The Fed has mostly tamed the inflation surge from 2022, which is why it was cutting the federal funds rate (the overnight interest rate it charges banks) at the end of 2024.
The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their estimate in September of four rate cuts.