Fed Delivers Expected 25 Basis Point Rate Cut as Markets Await Powell’s Comments

Core Points - The U.S. Federal Reserve cut its benchmark interest rate range by 25 basis points to 3.75% to 4.0% and concluded the quantitative tightening process on December 1 [1] - Job gains have slowed, and the unemployment rate has slightly increased but remains low; inflation has risen and is still elevated [2] - There was some dissent regarding the rate cut, with Kansas City Fed President voting to hold policy steady while another governor favored a larger cut [2] Market Reactions - Bitcoin (BTC) traded at $111,700, down 3% over the past 24 hours following the rate decision [3] - Stocks showed modest gains, with the Nasdaq leading at a 0.5% advance; the 10-year Treasury yield rose to 4.02% [3] - Market participants are focused on Fed Chair Jerome Powell's upcoming press conference for insights on the economy and future rate cuts [4]