How Much Do Fed Officials Expect to Cut Rates in 2024?

Federal Reserve officials’ new projections, to be released today, will likely show they expect to cut their benchmark federal-funds rate in 2024 from its current 22-year high of between 5.25% and 5.5%. If they maintain their projection of two rate cuts next year despite not hiking again, that would lower the year-end rate level to around 4.9%.