Federal Reserve Chairman Jerome Powell delivers remarks following the Fed’s two-day policy meeting on Wednesday.
The Fed announced Wednesday a quarter percentage point, or 25 basis point, cut to its overnight lending rate, bringing the targeted range to between 3.5% and 3.75%.
The rate-setting FOMC remained split, with a 9-3 vote, with some members favoring cuts to head off further weakness in the labor market and others who think easing has gone far enough and threatens to aggravate inflation.
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Federal Reserve Chair Jerome Powell discusses third interest rate cut this year — 12/10/2025
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