#CNBC Fed cuts rates for the second time this year, will end balance sheet run-off in December

Fed cuts rates for the second time this year, will end balance sheet run-off in December
The Federal Reserve on Wednesday approved its second straight interest rate cut, a widely expected move that came despite little recent visibility on the economy due to the government shutdown.

By a 10-2 vote, the central bank’s Federal Open Market Committee lowered its benchmark overnight borrowing rate to a range of 3.75%-4%.

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