The Federal Reserve on Wednesday approved a much-anticipated quarter percentage point interest rate cut at a meeting that was packed with intrigue and surprises. Here's a look at five top takeaways:

The hawkish cut is real — kind of. Wall Street had been anticipating the Fed would deliver a strong dose of caution along with the cut, with a warning that the bar was high for additional easing. Markets, though, didn't seem to mind: Stocks posted solid gains on the day while Treasury yields fell .

While a 9-3 vote might suggest broad support for the move, the Federal Open Market Committee is different. Three dissents is a lot, the most, in fact, since September 2019. And one of the "no" votes came from an unexpected source: Chicago Fed President Austan Goolsbee. Governor Stephen Mi

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