The Federal Reserve approved a 50 basis point reduction to the federal funds rate on September 18, 2024.

The Federal Reserve announced a 50-basis-point reduction in its benchmark federal funds rate on Sept. 18, 2024. CNBC and Fortune reported the decision the same day, while USA Today described it as a half-percentage-point reduction and noted that it was the Fed’s first rate cut in four years.cnbc.comcnbc.comThe Federal Reserve just cut interest rates by 50 basis points—here's what will...usatoday.comusatoday.comFed goes with half-point interest rate cut. What that means+1 more

Later accounts confirm the size and timing of the move. Penn Today stated that the Federal Reserve announced the 50-basis-point cut on Sept. 18, and CBS News described the November cut as half the size of the September reduction. Those reports also establish that the September action was the first of several rate cuts in 2024.cbsnews.comcbsnews.comFederal Reserve lowers interest rates by 0.25 percentage points in second cut of...penntoday.upenn.edupenntoday.upenn.eduWhat to know about the Fed’s interest rate cuts+1 more

The wording “approved” is a reasonable description of the Federal Reserve’s finalized rate decision, although the supplied excerpts do not identify the Federal Open Market Committee by name or provide the vote tally. The sources also do not independently establish whether the decision was unanimous. Those omissions do not undermine the central claim that a 50-basis-point reduction occurred on Sept. 18, 2024.cnbc.comcnbc.comThe Federal Reserve just cut interest rates by 50 basis points—here's what will...usatoday.comusatoday.comFed goes with half-point interest rate cut. What that means+3 more