Will The Fed Raise Interest Rates In May 2024. Despite predictions that interest rates would fall in 2024, the federal open market committee has not cut them. During its may meeting, the federal reserve unanimously voted to hold policy rates steady for the sixth consecutive time, leaving the federal funds target rate unchanged at 5.25% to 5.5%.

It is currently unlikely that the fomc elects to adjust interest rates on june 12. The fed is leaving its benchmark interest rate unchanged, noting a lack of progress in curbing inflation.