The Federal Reserve announced an interest rate policy decision to cut interest rates by 0.5% on September 18. This decision was accompanied by FOMC member forecasts.

BofA Global Research was the only major brokerage to raise its forecast for the Federal Reserve's anticipated interest-rate cuts for the rest of 2024, a day after the U.S. central bank delivered an outsized cut.

It’s a pivotal week for the US economy, with the Federal Reserve expected to cut interest rates for the first time since 2020. The move would mark a major milestone both for the central bank’s long fight with inflation and for Americans battling a higher cost of living for the past two years.