Fed Interest Rate Cuts 2024. The federal reserve left its key interest rate unchanged at between 5.25% and 5.5% — the highest level in more than a decade — as annual inflation rates. Powell has not confirmed that rate cuts are in the cards in september, instead maintaining that the fed needs continued positive economic data before it feels.
The average interest rate on a new credit card now at 24.84%, the highest since lendingtree started tracking rates in 2019. How a 2024 fed rate cut will affect mortgages, according to experts.