Group 1 - The Federal Reserve announced a 25 basis point cut in the federal funds rate, marking the third rate cut of the year, amidst significant internal dissent within the committee [1] - The decision passed with a 9-3 vote, indicating notable divisions among members regarding the economic outlook, with some advocating for no change and others calling for a larger cut [1] - The Fed's statement included a cautious tone, suggesting future rate adjustments will depend on real-time data and economic conditions, a shift from previous signals of pausing rate cuts [1] Group 2 - Fed Chairman Jerome Powell ruled out the possibility of rate hikes, stating that the current rate is in a "broadly neutral range" and that the Fed is in a position to wait for economic developments [2] - Powell acknowledged that the decision to cut rates was very close, highlighting the dual risks of a weakening labor market and rising inflation due to tariffs [2] - The Fed will not pre-set a path for future rate cuts, emphasizing a patient approach rather than rushing into decisions [2] Group 3 - Following the Fed's announcement, U.S. stock markets surged, with the Dow Jones rising over 600 points and the S&P 500 and Nasdaq also experiencing gains [3] - The U.S. dollar index fell sharply, while non-dollar currencies rebounded, and gold prices increased significantly [3] - President Trump continued to pressure the Fed, criticizing Powell's decisions and suggesting that rates should be lower, while hinting at potential changes in Fed leadership [3][4] Group 4 - Kevin Hassett, the Director of the National Economic Council, remains a leading candidate for the new Fed chair, with a broader selection process led by Treasury Secretary Mnuchin [4] - Other candidates include current Fed governors and executives from major financial institutions, with potential nominations expected within the next two weeks or possibly delayed until early 2026 [4]