By Tobias Burns | The Hill
The Federal Reserve cut interest rates by a quarter of a percentage point Wednesday, in line with market expectations, even as inflation has reaccelerated over the past two months.
Fed officials have been trying to find the right tempo for rate cuts since starting them in September with a sizable half-point reduction, and Wednesday’s cut — the third in a row — shows them pressing ahead with their strategy despite some underlying strength in labor and price data.
The Fed is now projecting two cuts for next year as opposed to four.