Fed cuts rate by 25 bps for 3rd time

The Federal Reserve headquarters

The Federal Reserve lowered today, Dec. 10, interest rates by 25 basis points for the third consecutive meeting, bringing the target range down to 3.50%–3.75%, in line with market expectations.

According to FOMC statement, available indicators suggest that economic activity has been expanding at a moderate pace. 

FOMC added that it would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the committee's goals. 

Nine committee members supported the rate cut, while two voted to keep policy unchanged.