Fed Rate Changes 2024

Fed Rate Changes 2024. The federal open market committee (fomc) announced on january 31, 2024, that it would maintain its policy rate in a range of 5.25% to 5.5%. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings.

Federal reserve officials left interest rates unchanged in their final policy decision of 2023 and forecast that they will cut borrowing costs three times in the coming. 5.33% as of september 18, 2024;