Fed Rate Cut September 2024 Rate Cut. Fed rate cuts would lower borrowing costs for mortgages, credit cards and other consumer and business loans while likely juicing the stock market. At the september 2024 federal open market committee (fomc) meeting, the federal reserve (fed) lowered interest rates by 50 basis points, easing monetary policy for the first time in four.

Five of the nine central banks overseeing the 10 most heavily traded currencies that held meetings in september lowered benchmarks. The federal reserve on wednesday said it is cutting its benchmark interest rate by 0.50 percentage points, marking the first reduction in four years and moving to ease.