The Federal Reserve made its third cut this year when it reduced its key interest rate by a quarter-point on Wednesday. The fed also indicated that it may reduce rates more slowly than previously expected in the new year, the Associated Press reported. Even though policymakers previously estimated that they would make four rate cuts in 2025, they now expect to make only two reductions, per the AP. Officials indicated that two more cuts may be coming in 2026 and another could happen in 2027, CNBC reported.
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