Federal Reserve issues FOMC statement

The Federal Reserve's Federal Open Market Committee lowered the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent on October 29, 2025. The Committee also decided to conclude the reduction of its aggregate securities holdings on December 1, and said it will carefully assess incoming data and the balance of risks before considering further adjustments. The statement says job gains have slowed and downside risks to employment rose in recent months, while inflation has moved up and remains somewhat elevated. Stephen I. Miran dissented in favor of a 1/2 percentage point cut, and Jeffrey R. Schmid dissented in favor of no change.