The last rate cut by the Federal Reserve was on July 31, 2019, when they lowered the federal funds target rate by 25 basis points to a range of 2.00% to 2.25%. This was the first rate cut since 2008 and was implemented to:

1. Mitigate the effects of global economic slowdown

2. Counteract the effects of trade tensions

3. Support continued economic growth

Before that, the Fed had raised interest rates nine times from 2015 to 2018, with the last rate hike occurring in December 2018.

Here's a brief summary of the recent Fed rate cuts:

- July 31, 2019: -25 basis points (2.00%-2.25%)

- September 18, 2019: -25 basis points (1.75%-2.00%)

- October 30, 2019: -25 basis points (1.50%-1.75%)

- March 3, 2020: -50 basis points (1.00%-1.25%) (emergency rate cut due to COVID-19)

- March 15, 2020: -100 basis points (0.00%-0.25%) (emergency rate cut due to COVID-19)

Note: The Fed has kept rates near zero since March 2020 to support the economy during the pandemic. if fed did rate cut of 25 basis points so maybe crypto market didn't give much pump .