Divided Fed approves third rate cut this year, sees slower pace ahead

Fulfilling expectations of a "hawkish cut," the central bank’s Federal Open Market Committee cut its key overnight borrowing rate by a quarter percentage point, putting it in a range between 3.5%-3.75%. However, the move carried caution flags about where policy is headed from here and featured "no" votes from three members, which hasn’t happened since September 2019.
Read more: CNBC