The Federal Reserve Open Market Committee (FOMC) meeting for December saw the central bank cut interest rates by 25bps, with the target range for the Fed funds rate lowered to 3.50-3.75%. This was the third rate cut from the central bank in 2025, totaling 75bps. The decision to cut rates by 25bps was in line with market expectations. However, the voting breakdown showed some differing views within the FOMC. Three members dissented, the highest in six years.