The U.S. Federal Reserve announced a quarter percentage point cut in interest rates , it’s first since December, amid a softening of the U.S. labor market.

The move was expected. The more pressing question for markets was how many additional cuts to expect. The central bank projected two more in 2025. The Fed ’s next two meetings are set for October and December. That would bring the benchmark rate down to a range of 3.50% to 3.75% by year-end.

The Dow Jones Industrial Average jumped 465 points on the news. But the tech-heavy Nasdaq and the S&P indexes are lower and markets mixed overall. Fed projections indicated only one increase in 2026, less than pundits anticipated. Fed chief Jerome Powell will give some indication of the central bank’s thinking at a press conference this afte

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