Will The Fed Cut Interest Rates In July 2024. However, if economic data continues to trend favorably, fomc. Federal reserve officials said wednesday that while there are signs the economy is slowing, the fed was not yet ready to cut its key interest rate.

(the fed wants inflation to rise 2 percent each year, but that’s using a different inflation gauge from the one released wednesday. The federal open market committee is not expected to adjust interest rates at the conclusion of its next meeting on july 31.