US Federal Reserve chairman Jerome Powell: the central bank maintained its outlook for just one cut in 2026. Photograph: Caroline Gutman/The New York TimesThe US Federal Reserve delivered a third consecutive interest-rate reduction and maintained its outlook for just one cut in 2026. The Federal Open Market Committee (FOMC) voted nine-to-three on Wednesday to lower the benchmark federal funds rate by 25 basis points to a range of 3.5-3.75 per cent. It also subtly altered the wording of its statement suggesting greater uncertainty about when it might cut rates again. Following the last rate cut in October, several officials warned of persistent inflation, indicating their hesitancy to support another reduction.

Source: The Irish Times December 10, 2025 19:42 UTC