Expectations for the Federal Reserve to cut interest rates in the latter half of 2024 have risen as inflation and the US labor market have cooled (Yahoo [Fortune], Axios, Yahoo Finance). Conditional announcements (e.g., if the labor market deteriorates, if inflation falls) would not count, and the date a cut would take effect is immaterial. The target range for the federal funds rate is set by the Federal Open Market Committee (FOMC). Its November meeting is scheduled for 6-7 November 2024. As of 16 September 2024, the last time the Federal Reserve announced a cut to the US federal funds target range was 15 March 2020 (Federal Reserve). The question will close early upon an unscheduled announcement of a reduction.

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