Federal Reserve Chairman Jerome Powell delivers remarks following the Fed’s two-day policy meeting on Wednesday.
The Federal Reserve policymakers announced a quarter percentage point, or 25 basis point, cut to its overnight lending rate on Wednesday, bringing the benchmark rate to a targeted range of between 3.75% to 4%. The vote was 10-2.
In addition to the rate move, the Fed announced that it would be ending the reduction of its asset purchases – a process known as quantitative tightening – on Dec 1.
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LIVE: Federal Reserve Chair Powell speaks after Fed cuts interest rate by 25 basis points — 10/29/25
