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Fed Cuts Rates, Raises Its 2025 Rate Projection
A quarter-point cut accompanied a higher projected rate path.
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Published
On December 18, 2024, the FOMC cut its target range by 25 basis points to 4.25–4.50%. Securities runoff continued.
The median end-2025 rate projection rose from September's 3.4% to 3.9%. This indicated less expected easing, not a commitment to two scheduled cuts.