The decision came at the conclusion of a two-day meeting of the Federal Open Market Committee, the central bank’s monetary policymaking arm.

While Wall Street had anticipated such a move, market observers will still dissect every sentence from Fed Chairman Jerome Powell’s press conference later in the afternoon for any sign that more cuts are on the way.

“Words matter,” Nela Richardson, an investment strategist with Edward Jones, told Reuters. “The Fed’s toolbox isn’t just increasing or lowering the federal funds rate — it’s also how they communicate with markets.”