Fed slashes rates but signals slower pace of cuts in 2025 — Dow plunges more than 1,100 points
The Federal Reserve on Wednesday slashed its key lending rate by a quarter percentage point for the final time this year — but signaled the pace of cuts will slow in the year ahead as the central bank moves to keep a lid on inflation. The widely expected quarter-point cut reduced the Federal Reserve’s target rate to between 4.25% and 4.5%.