Overview
- The Federal Open Market Committee lowered the policy range to 3.75%–4.00%, marking a second consecutive reduction this year.
- Officials cited slower job gains, a slight uptick in unemployment and persistent price pressures, while stressing data dependence for future moves.
- The vote showed a split, with Stephen I. Miran favoring a 50-basis-point cut and Jeffrey R. Schmid preferring no change.
- Wall Street finished mixed after the decision, with the Dow and S&P 500 slipping and the Nasdaq rising, as early Asian trading and GIFT Nifty signaled modest, uneven risk sentiment.
- Market pricing put the probability of another 25-basis-point cut in December near 68%, and analysts said lower U.S. yields could gradually attract foreign inflows into India even as near-term volatility persists.