Interest Rate Change

#Fed , reduced the federal funds rate (overnight borrowing rate) by 25 basis points (0.25%), bringing it to a range of %3.50 - %3.75. This marks the third consecutive cut of 2025 (25 basis points were also cut in September and October). The decision passed with a 9-3 vote – 3 members (including Austan Goolsbee and Jeffrey Schmid) opposed the cut, arguing for maintaining the current rate due to inflation risks.