The coronavirus has wreaked havoc on the economy, and in an emergency response, the Federal Reserve slashed interest rates by a full percentage point—the second rate cut in two weeks and the largest in Fed history.

In September 2024, Jerome Powell announced the first Federal Funds Rate cut in over four years. The Federal Funds Rate is a short-term rate related to the cost of debt in the American economy. Some expected the Federal Reserve to cut only 25 basis points,

With the benefit of hindsight, the 50-basis-point cut in September was a mistake, though not one of great consequence,” said the former treasury secretary and Harvard preside

The Fed cut interest rates again Sunday in an attempt to reduce “evolving risks to economic activity” caused by the coronavirus outbreak.

Federal Reserve Governor Christopher Waller said recent economic data shows the Fed should ease more cautiously after last month's jumbo rate cut.

Federal Reserve Bank of San Francisco President Mary Daly said on Tuesday the central bank remains on track for more rate cuts this year as long as data meets expectations, while noting that even with last month’s rate cut,

Looking ahead, the Fed expects to make further rate cuts— possibly another 0.50% in 2024 and 1.0% more in 2025. Additionally, the Federal Reserve now expects the unemployment rate to rise to 4.4% in 2024, and inflation to come down to 2.3%.

Recent data suggest that the Federal Reserve should proceed at a more cautious pace after the central bank's half-point cut in September, Fed Governor Christopher Waller said Monday. But two alternate scenarios could change that logic,

By Ann Saphir Palo Alto, California (Reuters) -Citing a recent uptick in inflation and data showing the U.S. economy and labor market are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead.

A key voter on the Federal Reserve said the surprising strength of the economy suggests the central bank should “proceed with more caution” in cutting U.S. interest rates to make sure inflation doesn’t reignite.