Anticipated Fed Rate Cuts 2024 Election. Amid calls from some legislators for the us federal reserve to cut interest rates, the central bank’s federal open market committee (fomc) announced on june 12 that it. The federal reserve on thursday announced its second interest rate cut of 2024, trimming its benchmark rate by 0.25 percentage points amid cooling inflation.

Federal reserve governor christopher waller cited recent data indicating that progress on inflation may be stalling. Though the vote was unanimous to hold rates last month at their 5.25% to 5.5% target range, “several” fomc officials said they would have supported a 25 basis point cut last.