Federal Reserve Cuts Rates 25 Basis Points, With Two Members Voting for Steady Policy

The U.S. Federal Reserve delivered a widely expected 25 basis point rate cut on Wednesday, lowering the range on its benchmark fed funds rate by 25 basis points to 3.50% to 3.75%. This marks the third straight quarter point reduction and brings short-term borrowing costs to their lowest level since 2022. "Uncertainty about the economic outlook remains elevated," said the Fed in its policy statement. "The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks ...