Third and final cut ✂️

The Fed approved a third and final rate cut for 2025. But what will 2026 bring?

📝 What you need to know

The Fed has approved a third and final rate cut in 2025, which buoyed Bitcoin and Ethereum slightly—although analysts had been saying earlier in the week that traders had already priced it in.

Federal Reserve Chair Jerome Powell is set to depart the agency in a few months—sooner if President Donald Trump gets his way. So what’s next for monetary policy?

In updated economic and rate projections, officials continued to pencil in two rate cuts. However, there was less of a consensus, with one official envisioning as many as six 0.25% rate cuts next year.

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