Federal Reserve cuts key rate as government shutdown clouds economic outlook

US Fed lowers key rate, but Powell says December cut not guaranteed

The central bank’s second consecutive quarter-point cut seeks to bolster the flagging US labour market.

US Fed lowers rates, nods to limits of data during shutdown; two policymakers dissent

The decision to lower the policy rate was expected as the Fed works to temper further decline in the job market. Read more at straitstimes.com.

Federal Reserve cuts rates for second time as shutdown stalls key data

The Federal Reserve cut interest rates for the second consecutive month Wednesday as questions swirl about the true strength of the U.S. economy. The Federal Open Market Committee (FOMC), the panel of Fed officials in charge of monetary policy, reduced its baseline interest rate to a range of 3.75 to 4 percent, cutting it by 0.25 percentage points. Officials voted 10 to 2 in favor of the rate cut, with Fed board member Stephen Miran instead supp…

U.S. central bank cuts interest rates

The U.S. Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated.

US Fed cuts rates by 25 bps to 3.75%-4%, its second reduction this year

US Federal Reserve cuts interest rates by 0.25% to 3.75%-4%, its second straight reduction this year, amid a data gap caused by the government shutdown.