Overview
- The FOMC lowered the benchmark rate by 25 basis points, marking a third straight quarter-point reduction.
- The decision drew three dissents, with Austan Goolsbee and Jeffrey Schmid favoring no change and Governor Stephen Miran advocating a larger half-point cut.
- Officials said the Fed will resume purchases of short-term Treasury securities to ease money-market strains after halting balance-sheet runoff earlier this month.
- Jerome Powell said policy will remain data dependent, as projections show only a modest path for further easing next year.
- Stocks rose after the announcement, while President Donald Trump pressed for deeper cuts and is weighing candidates to replace Powell when his chair term ends in May 2026.