Fed Lower Interest Rates 2024 Today. The federal reserve said wednesday it is keeping its benchmark lending rate at its current level for the seventh time in a row, while signaling fewer rate cuts than. Fed officials have held interest rates at 5.3 percent since july, after raising them sharply from near zero starting in march 2022.
Investors and lawmakers have called for the fed to lower rates several times over the past year or so, citing impending doom in either the banking sector, the. The federal reserve helps set the interest rates that determine how much it costs consumers and businesses to borrow money for products and services.