Fed Cuts Rates, Divided on Future

The Federal Reserve, in a widely expected move, cut interest rates by a quarter percentage point, bringing the benchmark federal funds rate to a range of 3.5% to 3.75%. However, the decision was not unanimous, with three officials dissenting, marking the first time since 2019 that three Fed members have dissented on a policy action. The disagreements reflect ongoing debates about managing the economy, balancing inflation concerns with growth support. The Fed also released economic projections for 2026, suggesting only one additional rate cut and indicating a more stable economic environment in the coming years.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.