US FED FOMC SEPT 2024 MEETING BEGINS - LIKELY OUTCOME, EXPECTATIONS - INTEREST RATE CUT? ANNOUNCEMENT DATE, TIME

US Fed FOMC Sept 2024 Meeting: Like India has Reserve Bank of India, the United States has the Federal Reserve System which is the central bank of the country. The FOMC holds 8 regularly scheduled meetings during the year and other meetings as needed. The US central bank is holding its September 2024 meeting.

The 2-day meeting of the US Federal Reserve will start tonight, with many awaiting an interest rate cut. What many are wondering right now is whether Chair Jerome Powell will go for a 50 basis point cut or stick to the 25 basis point cut. The Fed had been widely expected to announce at least a 25-basis-point cut to interest rates at the conclusion of its September policy meeting on Wednesday.

US Fed FOMC Sept 2024 Meeting

The Fed had been widely expected to announce at least a 25-basis-point cut to interest rates at the conclusion of its September 17-18 meeting. Fed Chief Jerome Powell will chair the two-day FOMC meet and announce the outcome on Wednesday, September 18, at around 11.30 pm Indian time, followed by a press meet.

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If the US Fed goes for an interest rate cut this time, it would be the first time in more than four years. The Fed had previously slashed the rate in 2020 to near-zero in order to support the US economy through the Covid-19 pandemic. The US central bank started increasing rates in 2022 in response to a sharp increase in inflation.

Since then, it has maintained its key lending rate at a 20-year high of between 5.25 and 5.50 per cent for the last 14 months, awaiting improvements in economic conditions.

2024-09-17T14:18:58Z dg43tfdfdgfd