Fed Increase Interest Rate 2024

Fed Increase Interest Rate 2024. Increases in interest rates are generally favorable for commercial bank net interest income (interest. The federal reserve announced at its july federal open market committee (fomc) meeting that it will keep its benchmark interest rate unchanged at 5.25% to 5.5%.

The federal reserve left its key interest rate unchanged at between 5.25% and 5.5% — the highest level in more than a decade — as annual inflation rates. • officials left the door open to future rate moves.