Fed Interest Rate Cut 2024 News. Powell, the fed chair, said that the central bank would take future interest rate cuts “meeting by meeting” after lowering rates by a half percentage point, an unusually large move. The federal open market committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, amid signs that.

Powell, the fed chair, said that the central bank would take future interest rate cuts “meeting by meeting” after lowering rates by a half percentage point, an unusually large move. Central bank’s three remaining policy meetings in 2024, according to a majority.