Topline
The Federal Reserve on Wednesday opted to cut interest rates, the third-straight vote in favor of a reduction, as Wall Street anticipated a cautious approach to monetary policy from the central bank next year.
Betting markets and brokerages have projected a third interest rate cut this year from the Fed.
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Key Facts
The Federal Open Market Committee voted 9-3 in favor of lowering interest rates by a quarter-point to between 3.5% and 3.75%, down from the 3.75% and 4% range the central bank approved during the FOMC’s October meeting.
What To Watch For
How Powell addresses future interest rate cuts. Goldman Sachs analysts wrote this week they expect Powell to suggest the “bar has risen” for further reductions, and that five Fed officials will likely express caution for additional interest rate cuts.