Search
 

Fed Lowers Interest Rates by a Quarter Point

However, officials reduced their expected number of rate cuts for next year from four to two.

By Amara Omeokwe | December 18, 2024 at 05:45 PM
Federal Reserve Chair Jerome Powell speaks during a news conference following an FOMC meeting in Washington, D.C., on March 20. Photographer: Al Drago/Bloomberg.

Federal Reserve officials lowered their benchmark interest rate today, for a third consecutive time, but reined in the number of cuts they expect in 2025, signaling greater caution over how quickly they will continue to reduce borrowing costs.

The Federal Open Market Committee (FOMC) voted 11-to-1 on Wednesday to cut the federal funds rate to a range of 4.25 percent to 4.5 percent. Cleveland Fed President Beth Hammack voted against the action, preferring to hold rates steady.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.