When is the next Federal Reserve meeting? Here you can read when you can expect updates on the current price.

For the first time in four yearsthe Federal Reserve’s benchmark, short-term interest rates were cut by half a percentage point. The previous one 23 years high remained stagnant since July 2023 until the September meeting, which marked the new range 4.75% to 5%.

“The Fed has grown more confident that inflation is moving sustainably toward 2% and believes that the risks to achieving its employment and inflation goals are broadly balanced,” the Fed said in a statement after the two-day meeting . The economic outlook is uncertain and the Fed is alert to the risks from both sides of its dual mandate.”

But as inflation continues to slow, could we see cuts in the final two Fed meetings of this year? Economists’ estimates had been scaled back, with most forecasts of rate cuts shifting to two or more An.

Fed Chairman Jerome Powell He said officials could speed up or slow down the pace of interest rate cuts depending on how the economy and inflation evolve. Before this week’s meeting, this is the The Federal Reserve’s remaining schedule.

When is the next Fed meeting?

The next Federal Reserve meeting will take place from November 6 to 7.

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2024 Federal Reserve Meeting Schedule

• January 30-31

• March 19–20

• April 30 – May 1

• June 11–12

• July 30-31

• September 17–18

• November 6–7

• December 17–18

Why is the Fed raising rates?

The Fed is the country’s central bank and is in charge of monetary policy. This means that the Fed sets interest rates and controls the money supply.

Its dual mandate is to promote “maximum employment and stable prices in the American economyStable prices mean the Fed is trying to keep inflation under control, with its long-term annual target of 2%.

To keep inflation under control, one of the Fed’s most important tools is the federal funds rate, the interest rate that banks charge each other for overnight loans. If that rate rises, banks usually pass on their additional costs.

Even though the Fed does not directly control all interest rates in the country, when it increases the Fed Funds rate, other interest rates eventually follow, including adjustable-rate mortgages, credit cards, home equity lines of credit, and other loans.

What is inflation?

Inflation is a general increase in pricesaffecting various goods and services across the economy, such as gas, rent and food.

This could be caused by several factors, such as more people spending money on goods or services that are not readily available to meet that demand. This allows manufacturers and service providers to increase prices without having to worry about a significant loss of sales.

Inflation can also be caused by a shortage of supply. If there are not enough goods to meet the demand for a good or service, this can lead to an increase in a manufacturer’s or retailer’s wholesale costs, which in turn are passed on to consumers through higher retail prices.

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This article originally appeared on USA TODAY: Fed meeting schedule 2024: a look at this year’s calendar