What did the Fed cut yesterday?

TLDR

The Federal Reserve cut its benchmark federal funds rate by 25 basis points, setting a 3.50% to 3.75% target range yesterday, confirmed in a live market update.

1. It was the third straight rate cut this year per a news report.
2. The new range is 3.50% to 3.75%, noted in a coverage summary.
3. Three officials dissented (two wanted no cut, one wanted 50 bps), per the announcement recap.

Deep Dive

1. Third Straight Cut

The Fed made a third consecutive quarter?point reduction, signaling ongoing ease amid cooling jobs data and above?target inflation, as covered by Forbes.

1. The committee framed further moves as data?dependent in a hawkish cut stance per CNBC.
2. Media noted its the lowest range in roughly three years per a news brief.

2. New Range And Stance

The fed funds target is now 3.50% to 3.75%, with officials signaling caution on additional cuts and projecting only one more in 2026 per a live recap.

1. The policy language emphasized extent and timing of future adjustments per CNBC.
2. Markets broadly anticipated the move as a quarter?point, confirmed in a decision summary.

3. Split Vote And Outlook

Dissents highlight division: two preferred no change, one wanted a larger cut, per a coverage piece.

1. The 93 vote and hawkish cut framing suggest the bar is higher for further easing per CNBC.
2. Projections imply a slower path of easing next year per the live update.

Conclusion

The Fed trimmed rates by 25 bps to 3.50% to 3.75% in a cautious, divided decision, aiming to balance a cooling labor market with still?elevated inflation. Near?term, this supports risk appetite, but signaling only limited future cuts keeps macro?driven volatility and data dependence front and center for crypto.