[Federal Reserve Cuts Interest Rates by 25 Basis Points, Expected to Cut Only Once in 2026] According to Securities Times, on December 10 local time, the Federal Reserve announced a 25 basis point cut to the benchmark interest rate, lowering it from the current range of 3.75%–4% to 3.5%–3.75%. This marks the third consecutive rate cut by the Federal Reserve, with a cumulative reduction of 75 basis points. In its statement, the Federal Reserve noted that current indicators show economic activity expanding at a moderate pace, but job growth has slowed this year, and the unemployment rate rose slightly before September. Recent indicators are consistent with these developments. Notably, there was significant disagreement among members of the Federal Open Market Committee (FOMC) during the vote. This is the third consecutive dissenting vote by Federal Reserve Governor Milan, whose term will expire in January next year. Meanwhile, Schmidt cast a dissenting vote for the second time in a row. Three members voted "against," a situation not seen since September 2019. The closely watched future policy projection "dot plot" indicates that the Federal Reserve is expected to cut rates only once in 2026 and once more in 2027, after which the federal funds rate will reach its long-term target of approximately 3%. These projections remain unchanged from the September update, but the chart reflects internal divisions within the committee regarding the direction of interest rates. In addition to the rate decision, the Federal Reserve also announced the resumption of Treasury bond purchases.