UPDATED: Fed Cuts Interest Rates by Another Quarter Point

Dec 19, 2024

The Federal Reserve announced another key interest rate cut on Dec. 18, 2024. The latest cut lowered the rate by another quarter point. Since September, the Fed has now lowered rates by a full percentage point.

Based on reductions that George Russell, a founding member of the Machinery Advisors Consortium, shared after the first cut in September, dealers can expect to see another $75,000 benefit on a floorplan debt of $30 million. With the 3 cuts in all, that would be a savings of $300,000 in annual interest.

At the same time, it signaled that it expects to reduce rates more slowly in 2025 than it previously thought, largely due to inflation remaining elevated. According to an AP report, the Fed's 19 policymakers project they will cut their benchmark rate by a quarter point just twice in 2025. Back in September they were estimating 4 rate cuts.

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Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
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