• 6 months ago
The Federal Reserve projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions. The Fed's "terminal rate" for 2024, or the rate at which its benchmark fed funds rate will peak, went up to 5.1%, equivalent to a target range of 5%-5.25%. In March, the Fed projected three rate cuts this year, with traders pricing in two cuts. For 2025, the Fed anticipated four rate cuts total or a 1 percentage point reduction in the fed funds rate.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02The Federal Reserve projected only one rate cut for the remainder of 2024,
00:06down from its March forecast that called for three reductions.
00:10The Fed's terminal rate for 2024, or the rate at which its benchmark Fed funds rate will peak,
00:15went up to 5.1 percent, equivalent to a target range of 5 to 5.25 percent.
00:21In March, the Fed projected three rate cuts this year, with traders pricing in two cuts.
00:26For 2025, the Fed anticipated four rate cuts total,
00:29or a one-percentage-point reduction in the Fed funds rate.
00:31For all things money, visit Benzinga.com.

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