The Federal Reserve concluded 2024 with a quarter-point interest rate cut, bringing the target federal funds rate down to a range of 4.25% to 4.50%. "As widely expected, the Fed cut the federal funds rate a quarter percent at the December 18 decision,

The United States central banking system, the Federal Reserve, is less likely to cut rates this month during its regularly scheduled two-day meeting following stubbornly rising inflation.

WASHINGTON (AP) — Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.