Dow drops 150 points, reversing gain as Powell says Fed may not cut again this year

Oct 29, 2025 11:48 PM ISTUS Fed Meeting LIVE Updates: Key takeaways from Fed decision to cut rate
Here are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday:
 
Federal Open Market Committee votes, 10-2, to lower the benchmark interest rate by a quarter point to a target range of 3.75%-4%
 
Fed says it will end the reduction of its securities holdings beginning on December 1, after slowing the pace of runoff earlier this year, and will roll maturing agency debt into Treasury bills.
 
Fed Governor Stephen Miran voted against the decision in favour of lowering rates by a half point, while Kansas City Fed President Jeff Schmid dissented in favour of holding rates steady.
 
Statement maintains description of the labour market, noting that “job gains have slowed, and the unemployment rate has edged up but remained low through August,” adding “more recent indicators are consistent with these developments” and “downside risks to employment rose in recent months”
 
Fed says “available indicators” suggest economic activity has been expanding at a moderate pace, and reiterates that inflation “has moved up since earlier in the year and remains somewhat elevated”

Source link