Will The Fed Cut Interest Rates In July 2024. The last time the fed hiked rates was july 26, 2023. The july 2024 cpi report will likely increase the fed’s confidence that inflation is on the way to its 2% target and position the fed to cut interest rates in september.
Powell laid out the case to lawmakers earlier in the week, telling them the fed need not. It is then seen as likely to keep easing policy.