Fed Rate Cut Schedule 2024 Time. The fed said the cut lowers the federal funds rate into a range of 4.75% to 5%, down from its prior range of 5.25% to 5.5%, which had been its highest level in 23 years. Fed officials also penciled in more rate cuts by year’s end in their latest economic forecasts, compared to the single cut in 2024 that they projected in june.

It is expected at 2 p.m. This pause follows aggressive rate hikes dating back to march 2022, a period in which the.