Could the Fed Cut Interest Rates in July? Yes, Say These Experts
Since August last year, the Fed has paused the federal funds rate at a target range of 5.25% to 5.5%. After 11 interest rate hikes between March 2022 and July 2023 to slow the economy, inflation eventually dropped from a high of 9.1% to 3%, where it’s been hovering for a while. A 3% annual inflation rate is still above the Fed’s target rate of 2%.