FOMC · November 7, 2024 · 14:00 ET
FOMC Rate Decision
Released
FOMC Rate Decision was released on November 7, 2024 (14:00 ET): Target Range Upper came in at 4.75%, vs 5% prior.
| Metric | Prior | Actual |
|---|---|---|
| Target Range Upper | 5% | 4.75% |
| Target Range Lower | 4.75% | 4.5% |
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What the statement says
FOMC lowered the federal funds rate target range by 25 basis points to 4-1/2 to 4-3/4 percent.
- Decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent
- Noted that inflation has made progress toward the 2 percent objective but remains somewhat elevated, and that the unemployment rate has moved up but remains low
- Will continue reducing its holdings of Treasury securities, agency debt, and agency mortgage-backed securities
- Will carefully assess incoming data, the evolving outlook, and the balance of risks in considering additional adjustments to the target range
- Remains strongly committed to supporting maximum employment and returning inflation to its 2 percent objective
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.