The US Federal Reserve announced on Wednesday that it was cutting interest rates by a quarter point for the third time this year, as the embattled central bank appeared split over how best to manage the US economy.

The Fed chair, Jerome Powell , has emphasized unity within the Federal Open Market Committee (FOMC), the board of Fed leaders that sets interest rates. But the nine-to-three vote to lower rates to a range of 3.5% to 3.75% was divisive among the committee that tends to vote in unanimity.

New projections from officials also suggest hesitance to cut rates further next year, a refusal that could further rifts between the Fed and the White House.

The split highlights the overall uncertainty within the Fed as the US economy absorbs major economic shakeups, including tariffs

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