The Federal Reserve cut its key interest rate by a quarter-point, signaling a slower pace of rate reductions next year due to persistent inflation. Policymakers projected only two rate cuts in 2025, down from the previous estimate of four cuts. The Fed aims for a "soft landing" for the economy, balancing inflation and growth concerns amid challenges like rising unemployment and uncertainty surrounding President-elect Donald Trump's policies. Other central banks worldwide are also cutting rates, reflecting a global trend of monetary easing.
Source: https://www.wpxi.com/news/local/federal-reserve-cuts-its-key-rate-by-quarter-point-envisions-fewer-reductions-next-year/7O3ORJU6MRFWPOET3GPWV3AQHM/