Key Takeaways From Fed Decision to Cut Rate by Quarter Point

Here are key takeaways from the Federal Reserve’s interest-rate decision on Wednesday:

• Federal Open Market Committee votes, 10-2, to lower the benchmark interest rate by a quarter point to a target range of 3.75%-4%
• Fed says it will end the reduction of its securities holdings beginning on Dec. 1, after slowing the pace of runoff earlier this year, and will roll maturing agency debt into Treasury bills
• Fed Governor Stephen Miran voted against the decision in favor of lowering rates by a half point, while Kansas City Fed President Jeff Schmid dissented in favor of holding rates steady
• Statement maintains ...