Federal Reserve meeting —
At its 10 December 2025 meeting, the Federal Reserve lowered its policy rate from 3.75–4.00% to 3.50–3.75%. The decision passed 9-3. 3 members dissented.
Decision
cut — 3.75–4.00% to 3.50–3.75%
Vote: 9-3
Dissenters
- Stephen Miran — preferred cut
- Austan Goolsbee — preferred hold
- Jeff Schmid — preferred hold
Key passages
the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 3-1/2 to 3-3/4 percent.
In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.
Meeting documents
Background reading
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