Federal Reserve Delivers Third Consecutive Rate Cut Amid Deep Internal Divisions
The Federal Reserve on Wednesday approved its third consecutive interest rate cut, lowering the benchmark federal-funds rate by a quarter percentage point to a range of 3.5% to 3.75%, the lowest level since early 2022. But the decision—passed in a 9–3 vote, the most divided in six years—exposed unusually sharp disagreements over the path forward as policymakers wrestle with a slowing labor market and stubborn inflation.
