The Federal Reserve decided to cut the benchmark interest rate by 25 basis points to the 3.50%-3.75% range. This is the third consecutive rate cut in the year, and the cumulative reduction has been 75 basis points during the year.

The Federal Reserve decided to cut the benchmark interest rate by 25 basis points to the 3.50%-3.75% range. This is the third consecutive rate cut in the year, and the cumulative reduction has been 75 basis points during the year.