The Federal Reserve enacted its third interest rate cut of the year, lowering the benchmark to 3.5%-3.75%, a move that included a $40 billion weekly Treasury securities purchase and spurred a rally in US stock markets.Jerome Powell affirmed a "wait and see" approach for monetary policy, dismissing future rate hike speculation despite internal dissent from two regional Fed presidents and a cautious dot plot for 2026 and 2027.Donald Trump criticized the rate cut as insufficient while global tech sectors saw significant developments, with Microsoft and Amazon pledging over $50 billion in India's AI industries and increased AI defense spending noted across European NATO allies.