Will The Fed Cut Interest Rates In May 2024. July 29, 2024, 3:55 am pdt. The target range for the federal funds rate is remaining at 5.25% to 5.50%, where it has held steady since july 2023.
Interest rate cuts probably aren’t here just yet, but they could finally reach americans in under 2 months. Fed officials’ latest signal on interest rates also came alongside the central bank’s new forecasts for growth, which show the us economy expanding by 2.1 per cent in 2024, unchanged from.