---
title: "Weekly Transportation Update: The Fed cuts the target federal funds rate by half a point"
description: Stay updated on the latest transportation trends with a focus on consumer inflation, diesel prices, truck spot rates and rail/intermodal volumes.
image: https://today.ftrintel.com/hubfs/Hero%20Images/Shippers%20Hero%20Images/Shippers%20warehouse%202.png
---

![](https://today.ftrintel.com/hs-fs/hubfs/Hero%20Images/Shippers%20Hero%20Images/Shippers%20warehouse%202.png?width=1600&height=500&name=Shippers%20warehouse%202.png)

Economy Freight Volumes Rail

# Weekly Transportation Update: The Fed cuts the target federal funds rate by half a point

![The FTR Experts](https://7528315.fs1.hubspotusercontent-na1.net/hub/7528315/hubfs/raw_assets/public/mV0_d-cms-elevate-theme_hubspot/elevate/images/avatar-placeholder.jpg?width=48&height=48&name=avatar-placeholder.jpg)

 The FTR Experts

September 23, 2024

Weekly Transportation Update: The Fed cuts the target federal funds rate by half a point

0:31

 

In recent economic news, the Federal Reserve has cut interest rates by half a point, aiming to stimulate growth. Manufacturing output showed signs of recovery in August, while retail sales remained stable. The inventory situation saw little change in July. Housing starts experienced a significant increase in August, although sales of existing homes are at a near 14-year low. Mortgage rates have dropped to their lowest levels in two years, contributing to a decrease in weekly initial jobless claims. Diesel prices are the lowest since October 2021, and truck spot rates have reached their lowest since July 2020. The Surface Transportation Board (STB) is holding a two-day hearing focused on rail growth, while East and Gulf Coast ports face the threat of a strike. Additionally, intermodal transport has driven a year-over-year increase in rail traffic.

- Automotive fuels a rebound in manufacturing output in August after downward revision.
- Housing start jump while sales of existing homes sink further.
- Truck spot rates decline in line with seasonal expectations.
- U.S. East/Gulf Coast ports still appear headed for a labor strike on October 1. 

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