Divided Fed makes 3rd straight rate cut, signals one more by end of 2026

WASHINGTON - The U.S. Federal Reserve on Wednesday cut its benchmark interest rate by 0.25 percentage point for the third straight time, though it expects only one such reduction in 2026, amid growing divisions among its policymakers over near-term economic conditions. Following this year's last two-day monetary policy meeting, the Fed said its target range for the federal funds rate, which commercial banks charge each other for overnight loans, will be 3.50-3.75 percent, the lowest level in thr