Fed Lowering Interest Rates 2024. The fed raised interest rates aggressively in 2022 and 2023, and has kept its benchmark rate at the highest level in more than two decades for over a year. Federal reserve chairman jerome powell speaks at a news conference following a federal open market committee meeting at the william mcchesney martin.

For now, fed policymakers voted unanimously to keep their benchmark rate between 5.25 and 5.5%, where it’s been for the last year. Among 21 primary dealers polled, nearly 60%, or 12, expected the fed to reduce rates twice in 2024.