Fed Rate Cuts 2024 News Today. • the federal reserve cut its benchmark lending rate again thursday, the second time this year as inflation continues to slow. Officials held interest rates steady at about 5.3 percent, where they have been set since july 2023, in their march policy decision.

Officials held interest rates steady at about 5.3 percent, where they have been set since july 2023, in their march policy decision. Friday’s jobs report virtually cements that the federal reserve will approve an interest rate cut when it meets later this month.