The Federal Reserve on Wednesday announced its widely expected decision to cut interest rates by another quarter point, matching the rate cuts seen in September and October.
The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 3.50 to 3.75 percent.
While a majority of Fed officials voted to cut rates by another quarter point, three cast dissenting votes for the first time since September 2019.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.