Fed Cuts Key Rate, Signals Just One More In 2026; S&P 500 Rises (Live Coverage)

The Federal Reserve cut its benchmark interest rate, as expected, while penciling in one further cut for 2026. The Fed projections provide a clue about what policymakers will do if the labor market and inflation fare as they expect next year. The S&P 500 initially moved higher as markets wait to hear from Fed Chairman Jerome Powell.