The Federal Reserve cut interest rates by a quarter percentage point for the third time this year on Wednesday while projecting one more cut for 2026.
The central bank voted in a split decision to trim its benchmark interest rate to a range of 3.5% to 3.75%.
The Fed’s announcement was accompanied by officials’ latest economic projections, in which they bumped up their 2026 growth projections and lowered their inflation projections.
Inflation is seen falling to 2.5% in 2026, compared with 2.6% previously projected, and a level of 3% to end 2025. GDP is seen rising 2.3% next year versus 1.8% previously, while GDP for this year was revised up a tenth of a percent to 1.7%.
Source: finance.yahoo.com