Market Updates
Federal Reserve Lowers Rates by 25 bps and Signals Fewer Rate Cuts In 2025
Brian Turner
18 Dec, 2024
Washington, D.C.
The Federal Reserve cut its overnight lending rate range by 25 basis points to between 4.25% and 4.50% and also signaled a possible rate cut of 50 basis points in 2025.
The possible rate-cut outlook was revised to 50 basis points from the previous estimate of 100 basis points, denting market enthusiasm and halting the roaring bull market.
The Federal Reserve raised its economic growth and inflation estimate but lowered its unemployment rate outlook, prompting many investors on Wall Street to forecast the Fed to pause rates at the end of its next meeting in January.
The Fed revised its GDP growth estimate in 2024 to 2.5% from the previous estimate of 2.0% in September, the unemployment rate to 4.2% from 4.4%, and PCE price inflation to 2.4% from 2.3%, respectively.
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