US Fed’s Final Policy Meeting of 2024: Interest Rate Cut Expected Today; Jerome Powell to Address Press

The US Federal Reserve kicks off its last two-day policy meeting of 2024 on Tuesday, December 17. The last Federal Open Market Committee (FOMC) meeting comes just weeks before Donald Trump takes office as the 47th President on January 20, 2025.

US Fed Meeting: Key Dates and Timings

The two-day policy meeting started on December 17 and concludes on December 18. Following the meeting, US Fed Chair Jerome Powell will address a press conference at approximately 2:30 PM ET on Wednesday (12:30 AM IST, Thursday).

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US Fed Meeting: Expected Interest Rate Cut

The US Federal Reserve is expected to cut its benchmark interest rate by 25 basis points at the end of its two-day meeting on December 18. This will be the third consecutive rate cut, taking the federal funds rate to a target range of 4.25%-4.5% from the current 4.5%-4.75%.

Where to Watch the FOMC Meeting Live

The decisions from the FOMC meeting and Powell’s media briefing will be available via live stream on the US Federal Reserve’s official website at federalreserve.gov/live-broadcast.htm. Additionally, the press conference will be broadcast on the Fed’s YouTube channel and other official social media platforms.

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FAQs:

Why is the interest rate cut significant?
It would mark the third consecutive rate cut, influencing inflation control, job market stability, and economic growth.

How confident are markets about the rate cut?
Market tools like CME Group’s FedWatch indicate a 99% probability of a rate cut.