Fed Rate Cuts 2024 November Rain. The federal reserve on thursday announced it will cut the benchmark interest rate by 25 basis points, with its second consecutive rate cut coming amid signs of cooling inflation. The fed cut the federal funds rate on november 7 by 0.25%, targeting a range between 4.5% and 4.75%.
The final scenario โ if inflation heats up โ would mean fed officials can โpause rate cuts until progress resumes and uncertainty diminishes,โ he said. But a november cut doesnโt preclude a pause.