The Federal Reserve cut its benchmark interest rate a quarter of a percentage point on Wednesday, opting for its third interest rate cut this year in an effort to revive a sluggish labor market. The reduction of interest rates could deliver some relief for mortgage and credit card borrowers.

The Fed lowered its benchmark interest rate by a quarter percentage point, in an effort to shore up a weakening job market. With inflation remaining stubbornly high, it was not a slam dunk decision.

A divided Federal Reserve voted to lower interest rates again on Wednesday, but officials signaled that another cut won't be immediate, a stance that will ratchet up tensions with President Donald Trump.

In a statement released after a two-day meeting, the Fed’s rate-setting committee signalled that it may keep its rate unchanged in the coming months. And in a set of quarterly economic projections, Fed officials signalled they expect to lower rates just once next year.

WASHINGTON - The Federal Reserve lowered its key interest rate for the third consecutive meeting on Wednesday but indicated it may pause further cuts in the coming months—a stance likely to draw criticism from President Donald Trump, who has pushed for far steeper reductions.

Bitcoin BTC $90,314.28 rose Monday, supposedly in anticipation of a Federal Reserve interest-rate cut this week, although a continued rally in Treasury yields signaled caution. The Fed is expected to cut the target interest rate by 25 basis points to the 3.

Gold prices were little changed during Asian trading on Tuesday, with investors adopting a cautious stance ahead of this week’s Federal Reserve meeting, where another interest rate cut is widely expected.

Bitcoin failed to build on recent gains on Monday, as investors awaited the Federal Reserve’s decision on interest rates.