(Daily Caller)—The Federal Reserve announced it would not change its benchmark federal funds rate on Wednesday, keeping the rate at its highest level since 2001, but did signal plans to cut rates in 2024.
The Fed’s decision not to raise rates keeps the target range between 5.25% and 5.50%, marking the third meeting in a row where the Fed chose to not adjust the rate, according to an announcement from the Federal Reserve following a meeting by the Federal Open Market Committee (FOMC). The Fed also released its future projections of the economy and the federal funds rate, with FOMC members projecting rates will be lowered to a median of 4.6% by the end of 2024, indicating three interest rate cuts if the Fed sticks to its typical 0.25% change pattern.
“Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter,” the FOMC statement reads. “Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated…The Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.”
The last rate hike was at the committee’s meeting in July and was the 11th in a series of hikes starting in March 2022 in an effort to combat inflation, which peaked at 9.1% in June 2022.
“The Fed is unlikely to raise their interest rate targets any further in 2024,” Dr. Thomas Hogan, senior fellow at the American Institute for Economic Research, told the Daily Caller New Foundation. “The question is when they will start cutting rates. The median FOMC projection is that inflation (PCE inflation, not CPI) will fall to 2.5% in 2024 and that the fed funds rate will be cut to 5.1% by the end of 2024. If inflation appears to be coming down, then we should expect their economic projections to show lower projections for inflation and the fed funds rate, indicating they will begin cutting rates sooner than previously expected.”
Inflation decelerated slightly in November, with the consumer price index (CPI) rising 3.1% year-over-year compared to 3.2% in October, far above the Fed’s 2% target. Core CPI, which excludes energy and food, remained even more elevated at 4.0%, following significant recent deflation in the price of gasoline.
The economy showed strong growth in the third quarter of 2023, with gross domestic product rising 5.2% compared to just 2.1% in the second quarter. The U.S. job market continues to slow, with the economy adding 199,000 jobs in November, with around 47,000 of those jobs coming from the return of striking workers in the auto and motion picture and sound industries.
Top investment banks and asset managers are mixed in their forecasts for the U.S. economy in 2024, with strong growth but high inflation and slowing job numbers clouding recession predictions and complicating the Fed’s long-term goal to reduce inflation without triggering a recession.
“But even if the Fed does start cutting rates in 2024, it is unlikely to lower them by much,” Hogan told the DCNF. “The FOMC’s most recent projections show the FOMC keeping interest rates above 5% in 2024 and not getting below 4% until 2026.”
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Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.