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Fed cuts rates by a quarter point, indicates fewer reductions ahead

  • The Federal Reserve announced a quarter-point cut in interest rates on Wednesday, lowering the overnight borrowing rate to a target range of 4.25%-4.5%.
  • The Federal Open Market Committee indicated it would likely only lower rates twice more in 2025, according to the 'dot plot' matrix.
  • Since September, the Fed has cut benchmark rates by a full percentage point.
  • The Fed funds rate affects what banks charge for overnight lending and influences consumer debt like auto loans, credit cards, and mortgages.
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