• Federal Open Market Committee votes unanimously to leave benchmark rate unchanged -- as expected -- in target range of 5.25%-5.5% for third straight meeting
• “Dot plot’' of rate projections shows wide range of estimates on how much Fed should cut next year, with median at 75 basis points; eight anticipate fewer reductions, while five expect deeper cuts
• FOMC softens stance toward further hikes by adding one word to the statement, saying officials will consider the extent of “any” additional policy firming that's needed
• Fed also acknowledges that “inflation has eased over the past year but remains elevated,” and says that economic growth has slowed from the third quarter's “strong pace”
• Median projections for inflation tick down in 2024 and 2025, while unemployment forecasts are little changed, indicating Fed officials' growing confidence they can cool price gains without big job losses

(Bloomberg) -- For Bloomberg's TOPLive blog on the Fed decision and press conference, click here

--With assistance from Catarina Saraiva.

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