When Will The Fed Lower Interest Rates 2024. In july 2023, the fed raised the fed funds rate to its highest since 2001 and has held it there ever since. The federal reserve held interest rates steady wednesday, but policymakers signaled they still expect to start cutting rates later this year.
This pause follows aggressive rate hikes dating back to march 2022, a period in which the. The average interest rate on a new credit card now at 24.84%, the highest since lendingtree started tracking rates in 2019.