How to limit number of news posts on front page?

My static front page is a “home” page, not latest posts. But there is a section displaying latest news posts, called News. I’d like to limit the number of posts visible there.

In my general settings, I’ve set my number of news (blog) posts to 3. That works on the latest posts page, but not the News section on the front page. It still shows more than 3. I’d like to know where to go to limit that section. I don’t see a way to do it under customize.