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Federal Reserve Chair Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee at the Federal Reserve in Washington on Sept. 17, 2025. Chip Somodevilla/Getty Images
The Federal Reserve cut interest rates for the first time this year following its two-day policy meeting that concluded on Sept. 17.
Members of the Federal Open Market Committee (FOMC) voted to reduce the benchmark federal funds rate by 25 basis points, setting the new target range at 4 percent to 4.25 percent.
