When Did The Fed Lower Interest Rates 2024

When Did The Fed Lower Interest Rates 2024. The fed cut the federal funds rate on november 7 by 0.25%, targeting a range between 4.5% and 4.75%. Federal reserve officials held interest rates at their highest level in more than two decades at their first meeting of 2024 and hinted that their next move will be to lower.

The interest rate cut of 0.25% was expected, and it is likely to be. Why would the fed decrease interest rates?