The Federal Reserve cut interest rates by 25 basis points for the third time this year.

25 basis point rate cut. The Federal Reserve lowering their benchmark interest rate by a quarter percentage point to a new range of three and a half and three and three/4ers, marking the third rate cut in a row this year. Officials see just one rate cut next year.Now, this was a split decision with dissents on both sides. Austin Goulsby of the Chicago Federal Reserve and Kansas City Fed President Jeff Schmid both favored holding rates steady instead of cutting. On the flip side, Steven Myron, the Fed govern ...