The last interest rate cut by the Federal Reserve occurred in July 2023, when rates were maintained at 5.25%-5.50%. However, Chair Jerome Powell recently indicated that the Fed plans to cut rates in September 2024, contingent on economic data showing sustained inflation progress towards the 2% target.

Exciting news from Chair Powell on potential rate cuts in September 2024! Keeping a close eye on economic data for that sustained inflation progress 📈💰