Fed Rate Cuts 2024. But a clear majority of economists, 58 of 99, predicted the fed, which has already reduced the fed funds rate by a cumulative 75 bps since september, would hold rates at its jan. With interest rates declining, borrowing costs for credit cards, personal loans, and auto financing should get a bit cheaper, saving a few bucks on most loans.

Morgan research expects the fed to cut rates by another 25 bp in december, with further cuts only taking place once per quarter in 2025. It’s possible the fed’s outlook will forecast three rate cuts in 2025 of 0.25 percentage.