Fed Meeting September 2024. The federal reserve slashed interest rates by 50 basis points at the conclusion of its september policy meeting. The fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years.
At the september 2024 federal open market committee (fomc) meeting, the federal reserve (fed) lowered interest rates by 50 basis points, easing monetary policy for the first time in four years due to progress on the fedโs dual mandate. Fed chair jay powell said all 19 federal open market committee.