Amid lingering inflation, the U.S. Federal Reserve lowered interest rates for the third time in 2024 on Wednesday.
The Fed reduced its benchmark rate by 0.25 percentage points to a range between 4.25% and 4.5%, down from its previous target range between 4.5% and 4.75%.
“The Committee seeks to achieve maximum employment and inflation at the rate of 2% over the longer run,” the Fed said in a statement on Wednesday. “The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate.”
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
