Fed to Cut Once More Before Slowing Pace in 2025, Economists Say

Federal Reserve officials will lower interest rates this month for a third straight time and pare back the number of rate cuts they anticipate next year, according to economists surveyed by Bloomberg News.

Fed Chair Jerome Powell and his colleagues are expected to deliver another quarter-point rate cut at their Dec. 17-18 meeting, bringing the central bank’s key benchmark rate down to a range of 4.25% to 4.50%. That would mark a full percentage point of reductions since September.

Rate cuts are seen slowing next year by more than officials projected three months ago, with a majority of economists ...