Federal Reserve Cuts Interest Rates Again but Signals Possible Pause

The Federal Reserve lowered its key interest rate for the third straight meeting Wednesday but signaled it may pause further reductions in the months ahead, a stance that could put the central bank at odds with President Donald Trump, who has pressed for deeper and faster cuts to borrowing costs.

Policymakers reduced the benchmark rate by a quarter-point to about 3.6 percent — the lowest level in nearly three years — while indicating in new projections that they expect only one additional reduction next year...