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US Fed cuts rate by quarter-point in third straight reduction

World News

2024-12-18 | 14:12

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US Fed cuts rate by quarter-point in third straight reduction

The U.S. Federal Reserve cut interest rates by a quarter point Wednesday and signaled a slower pace of cuts ahead, amid uncertainty about inflation and President-elect Donald Trump's economic plans.

Policymakers voted 11-to-1 to lower the U.S. central bank's key lending rate to between 4.25 percent and 4.50 percent, the Fed announced in a statement.

They also penciled in just two quarter-point rate cuts for next year and sharply hiked their inflation outlook for 2025.

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