Mumbai, Dec. 11 -- The Federal Reserve on Wednesday announced its widely expected decision to cut interest rates by another quarter point, matching the rate cuts seen in September and October.
The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 3.50 to 3.75 percent.
While a majority of Fed officials voted to cut rates by another quarter point, three cast dissenting votes for the first time since September 2019.
The central bank's latest summary of economic projections also showed significant divisions about the outlook for rates.
The forecast for rates at the end of 2026 was unchanged from September at a range of 3.25 to 3.50 percent, suggesting just one more quarter point rate cut next yea...