The Federal Reserve implemented a 25 basis point cut, lifting the policy range to 3.50%–3.75% and completing the third consecutive easing this year. The move meets market consensus and leaves 75 bps of cuts year-to-date. The dot plot also signals further reductions of 25 bps in 2026 and 2027.

Powell noted a gradual cool-down in the labor market while inflation remains modestly above target, with upside risks persisting. Internal divisions within the Fed have tempered expectations for additional cuts, underscoring a data-dependent policy path.

Goldman Sachs analyst Kay Haigh argues that the rate-cut cycle may have reached the “end point” of precautionary easing, implying that any further support hinges on softer labor-market data to justify additional accommodation.

In crypto markets, Bitcoin briefly rose above $94,000 before retreating, trading near $91,918 as investors reassess the implications of the Fed stance on inflation and policy signaling.