The Federal Reserve cut rates for the second time in 2025 at its meeting this week. The rate was cut by 25 basis points and now sits at 3.75%-4.00%.

The rate cut reflects a cautious approach the Fed is taking due to missing economic data and growing internal divisions among Federal Open Market Committee (FOMC) members.

Fed Chair Jerome Powell said after the announcement that a widely expected further cut in December is “far from” a foregone conclusion, noting that FOMC members have strong, differing views about future rate cuts.

The Fed’s decision was made without full visibility of the state of the economy , as the federal government shutdown has delayed the release of most key data sets.

Notably, there were two dissents among the 12 members of the FOMC: Stephen Miran wanted a 0.5 p

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