The Federal Reserve on Wednesday approved a quarter-point rate cut, its third of the year, signaling the move is likely the last for now.
The move was widely expected by investors but drew three dissents, the most since 2019. Fed Governor Stephen Miran supported a larger half-point cut, while regional presidents Jeff Schmid and Austan Goolsbee opposed any reduction.
The Fed’s benchmark rate is now at its lowest level since late 2022. Officials signaled Wednesday’s cut is likely the last for now, with projections showing stronger economic growth next year and only limited additional easing ahead.
