In a widely anticipated move, the Federal Reserve on Wednesday lowered its benchmark interest rate by 25 basis points (bps), bringing the target range to 4.25% to 4.5%. 

This marks the third consecutive reduction by the Fed following a 50-bps cut in September and a 25-bps cut in November, cumulatively reducing rates by 100 bps this year. Going forward, however, a slower path for rate cuts is expected when compared to previous forecasts from Fed policymakers.

“Recent indicators suggest that economic activity has continued to expand at a solid pace,” details ⇒

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