This Week In Credit Card News: Fed May Cut Rates In 2024; Consumers Receiving Higher Credit Limits
Posted on AllSides December 14th, 2023
From The Center
Fed Holds Rates Steady, Indicates Three Cuts Coming in 2024 The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond. With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%. Along with the decision to stay on hold, committee members penciled in at least three rate cuts in 2024,...
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