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News of the Day December 11, 2025
Federal Reserve Cuts Benchmark Interest Rates for 3rd Time this Year
The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its third interest rate cut this year in an effort to revive a sluggish labor market.
The reduction of interest rates could deliver some relief for mortgage and credit card borrowers.
The Fed’s benchmark rate stands between 3.5% and 3.75%. That figure marks a significant drop from a recent peak attained in 2023, but borrowing costs remain well above a 0% rate established at the outset of the COVID-19 pandemic.
Speaking at a press conference in Washington, D.C., on Wednesday, Fed Chair Jerome Powell touted the rate cut as an effort to improve the labor market, but he suggested the central bank may be cautious about further rate reductions.
“We’re well positioned to wait and see how the economy evolves,” Powell said.