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The FOMC today, as expected, lowered interest rates by 25 basis points. Committee members cited a commitment to achieving “maximum employment” and getting inflation closer to its 2% target as reasons for the decision. It’s the central bank’s third consecutive rate cut, but projections show committee members expect to slow their pace of decreases in 2025. 

Odds of another 25bps cut in January are now at 82%, according to data from CME Group. 

Committee member projections published Wednesday show the median interest rate target by the end of 2025 falling in the 3.75% — 4%…

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