Fed Interest Rate Announcement 2024. This shift in how the fed is viewing the economy means the central bank could begin paring back interest rates as soon as its next policy meeting, in september,. Policymakers kept the key interest rate at 5.25% to 5.5%.

After raising its key interest rate for nearly two years to tamp down growth and rising prices, economists expected the fed to cut the rate to bring it more in line. Fed holds interest rates but keeps door open to a cut in coming months.