Fed Cuts Rates—but a Rare Revolt Inside the Central Bank Sparks Big Questions About What Comes Next
Key Points The Federal Reserve delivered a widely expected “hawkish cut” on Wednesday, lowering its benchmark interest rate by a quarter percentage point—but the move also exposed a surprisingly sharp divide inside the central bank. The Federal Open Market Committee (FOMC) voted 9-3 to trim the federal funds rate to a range of 3.5% to … Read more