Will Interest Rates Be Cut In 2024 For Cars. On wednesday, the fed slashed interest rates for the first time in four years, cutting the benchmark rate by half a percentage point to a range between 4.75% and. The federal reserve's period of policy tightening appears to be over, opening the door to lower borrowing costs in the year ahead.

But that average drops to. The federal reserve’s period of policy tightening appears to be over, opening the door to lower borrowing costs in the year ahead.