Us Rate Cuts 2024 News. The federal reserve cut interest rates on wednesday by half a percentage point. The dollar has fallen 5% from its 2024 highs, close to its lowest level in about a year against a basket of its peers following a sharp drop last month.
Gdp for 2024 was lowered slightly to 1.4% from 1.5%, while the unemployment rate is seen rising to 4.1% in 2024 from its present 3.7% rate and continuing at that level in 2025 and 2026. The s&p topped 5,200 for the first time wednesday after the federal reserve said it was still targeting three rate cuts in 2024.