Treasury yields were falling Wednesday after the Federal Reserve announced that it is lowering its benchmark interest rate by a quarter of a percentage point, a decision widely expected by investors.

Federal Reserve policymakers projected inflation will rise to 3% in 2025 while unemployment will reach 4.5% as the central bank begins cutting rates after holding them steady all year.

Sports Illustrated' swimsuit issue star Ellie Thumann stuns in a designer dress that is cut out in the front and styled with two tiny bralettes for coverage

The Federal Reserve cut rates by 25 basis points and projects gradual reductions through 2028, with a long-term target of 3%. Read what investors need to know.