#FOMCMeeting After a series of interest rate hikes from March 2022 to July 2023, the Federal Reserve kept its baseline rate stable for over a year. However, in September 2024, the Federal Reserve announced a reduction of the rate by 50 basis points. It lowered its target rate by another 25 basis points in November and once again in December. Since then, the Federal Reserve has kept its target range stable at 4.25%-4.50%.