#CNBC Powell: Unemployment rate has edged up, inflation remains somewhat elevated

Powell: Unemployment rate has edged up, inflation remains somewhat elevated
The Federal Reserve on Wednesday cut the benchmark overnight lending rate by 0.25%, or 25 basis points, putting the benchmark rate in the range of 4.00% to 4.25%.

In its statement, the Fed acknowledged slight increases in the unemployment rate and a “shift” in the balance of risks in labor and inflation.

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