On September 18, 2024, the Federal Reserve cut interest rates by 50 basis points, lowering the federal funds rate to 4.75%-5% as inflation trends downward. Fed Chair Jerome Powell signals cautious future cuts amid a balanced economic outlook.

Brent crude fell below $70 for the first time since December 2021. Oil prices continued to decline on Tuesday after OPEC lowered its forecasts for global oil demand growth for this year and next.