#Firstpost US Fed Announces First Rate Cut In Nine Months, Signals More Reductions | N18G

Federal Reserve Chair Jerome Powell tells a news conference about the US central bank’s decision to cut its key interest rate by 0.25 percentage points. This is the Fed’s first cut this year and puts the target range for its main lending rate at 4% – 4.25%. In their announcement, Fed officials indicated they expect two more quarter-point rate cuts this year. President Donald Trump has criticised Powell for not cutting interest rates faster, calling him everything from “too late” to a “numbskull”

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