Fed Cut Interest Rates 2024. Today, the fed funds target rate is 5.25% to. The federal reserve on wednesday left its benchmark interest rate unchanged and penciled in only one rate cut in 2024 as policymakers await more evidence that u.s.

In fact, at jackson hole two years ago, powell himself warned that using high interest rates to defeat the inflation spike “would bring some pain to households and businesses.” yet now, according to the fed’s preferred measure, inflation is 2.5%, not far above its 2% target. Fed policymakers agree inflation is cooling.