FOMC · September 18, 2024 · 14:00 ET
FOMC Rate Decision
Released
FOMC Rate Decision was released on September 18, 2024 (14:00 ET): Target Range Upper came in at 5%, vs 5.5% prior.
| Metric | Prior | Actual |
|---|---|---|
| Target Range Upper | 5.5% | 5% |
| Target Range Lower | 5.25% | 4.75% |
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What the statement says
FOMC cuts the federal funds rate target range by 50 bps to 4.75–5.00%, reaffirms ongoing balance sheet reduction
- Decided to lower the target range for the federal funds rate by 1/2 percentage point to 4-3/4 to 5 percent
- Inflation has made further progress toward the 2 percent objective but remains somewhat elevated; the Committee has gained greater confidence that inflation is moving sustainably toward 2 percent
- Risks to achieving both employment and inflation goals are judged to be roughly in balance; the economic outlook is uncertain
- Will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities
- Michelle W. Bowman voted against the action, preferring to lower the target range by 1/4 percentage point
AI-generated summary of the official text. The official statement is authoritative. Not investment advice.
Figures as published by the official source, which is authoritative. Not investment advice.