Expected Fed Rate Cuts 2024 Dates. The federal reserve (fed) announced at its january 2024 meeting that it would maintain the overnight federal funds rate at the current range of 5.25% to 5.5%. In 2024, for example, nine of the central bank’s 19 officials expect rates to end the year at about 4.4 percent, half a point below where they stand after the jumbo.

The move was widely expected and marks an end to the central bank’s round of 11 hikes in interest rates since march 2022, but the focus now will be on how quickly the fed retreats from what. Federal reserve officials on wednesday signalled support for another rate rise this year and fewer cuts in 2024 even as the us central bank held its benchmark.