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Federal Reserve Cuts Rates Three Times in 2024

10/26/2025

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Summary

Story summary

In 2024, the Federal Reserve cut interest rates three times, lowering the federal funds target range to 4.25%-4.50% by December.
The move supported the U.S. economy as inflation receded after pandemic spikes.
CD rates declined, with the top 6-month jumbo at 4.94% and average terms about 1.56%-1.84%.
Investors should compare rates across banks, especially online institutions, and learn penalties for early withdrawals.

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Story summary

In 2024, the Federal Reserve cut interest rates three times, lowering the federal funds target range to 4.25%-4.50% by December.
The move supported the U.S. economy as inflation receded after pandemic spikes.
CD rates declined, with the top 6-month jumbo at 4.94% and average terms about 1.56%-1.84%.
Investors should compare rates across banks, especially online institutions, and learn penalties for early withdrawals.