Key takeaways (via Bloomberg) from the FOMC decision:

Fed cuts federal-funds rate target range by a quarter point to 1.5%-1.75% -- as investors and most economists expected -- in the third straight reduction aimed at protecting the record-long U.S. expansion from threats posed by tariff wars and weak global growth, amid "muted inflation pressures"

But FOMC signals it could pause, as the statement omits the familiar pledge from recent months to "act as appropriate to sustain the expansion"; Fed instead says it will monitor incoming information as it "assesses the appropriate path" of rates

Fed still leaves door open to easing, saying that uncertainties remain around its outlook even as it calls labor market and consumption "strong"; acknowledges that business investment and exports "remain weak"