The U.S. Federal Reserve has unanimously reduced interest rates to a range of 4.5% to 4.75%, confirming market predictions for a 25 basis point cut. This decision follows a larger cut of 50 basis points in September. In its post-meeting statement, the Fed emphasized progress toward its 2% inflation target and noted that economic activity continues to expand strongly. Officials also mentioned that while labor market conditions have relaxed this year, unemployment remains low. The economic outlook, however, is still viewed as uncertain.