January 2024 Fed Meeting: Interest Rates Remain Steady

Kathy Bogardus

Jan 31, 2024

Share this post on:

Meeting for the first time this year on January 30–31, the Federal Open Market Committee (FOMC) announced interest rates will remain steady at this time. Investors believe rates will likely not decline until at least April.

With this latest announcement, the Fed extends the rate pause. Since July 2023, interest rates have remained at 5.25%–5.50%.

The Fed will continue to monitor the financial well-being of the United States as 2024 gets underway and will meet to discuss rates again in March.

What Financial Analysts Are Saying

“Investors still believe rate cuts are coming, but some have started to question when the Fed will begin lowering borrowing costs and how quickly it will move,” reports Reuters.

In December, the probability of a rate cut occurring this March was 88%, according to Fed Fund futures. However, just ahead of the Fed meeting in January, this probability had dropped by more than half, down to 41%

“If economic trends continue as expected, rate cuts of up to 0.75% are expected in 2024, though it isn't clear when those rate cuts could happen,” assesses CBS News.

For historical context, the Fed raised interest rates four times last year:

What the January 2024 Fed Meeting Means for Farmers

January’s Fed meeting indicates that with the sharp inflation experienced in recent years dissipating, they will not step in to change interest rates at this time. Although interest rates continue to be stable, CNN points out that geopolitical unpredictability persists as a risk to the economy of the United States. 

Farmers have some time before the next Fed meeting, but they may still find it beneficial to lock in financing ahead of March.

For a limited time, with FBN Finance you can get 0% interest all season long. 

0% Interest for Returning Customers* 

FBN customers with an FBN Finance Operating Line of Credit or Input Financing can lock in 0% interest financing on FBN inputs all season long with minimum spend of $50,000, including a mix of 6+ input products OR 2+ livestock product categories with a minimum spend per product/category of $2,500, by February 29, 2024. 

Learn More About 0% Interest for Returning Customers 

0% Financing for New Customers** 

Get 0% interest financing on qualifying products for 30 days from your first FBN Direct® purchase, now through August 31, 2024. Plus, lock in 0% interest financing all season with a minimum spend of $20,000, including a mix of 4+ inputs or 2+ livestock categories with a minimum spend per product/category of $1,000, by August 31, 2024.

Learn More About 0% Financing for New Customers

What Is the 2024 Schedule for Fed Meetings?

The Fed typically meets eight times a year to discuss current economic conditions and forecast potential threats to U.S. economic growth, though it can meet more frequently if there is an urgent need to implement such policies as short-term interest rates. Through this assessment, the 12 members shape U.S. monetary policy. They also indicate how these policies will be executed.

2024 Fed 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

Lock in 0% Interest Financing



Related Posts


© 2014 - 2024 Farmer's Business Network, Inc. All rights Reserved. The sprout logo, “Farmers Business Network”, “FBN”, "Farmers First", “FBN Direct”, "F2F", and "F2F Genetics Network" are trademarks, registered trademarks or service marks of Farmer's Business Network, Inc.

*For more information, see program details

**For more information, see program details

Financing offered by FBN Finance, LLC and its lending partners. Available where FBN Finance, LLC is licensed. Terms and conditions apply. To qualify, a borrower must be a member of Farmer’s Business Network, Inc. and meet all underwriting requirements. Interest rates and fees will vary depending on your individual situation. Not all applicants will qualify. NMLS ID: 1631119.

Kathy Bogardus

Jan 31, 2024

Share this post on: