WASHINGTON: The Federal Reserve has trimmed US interest rates a quarter percentage point to 45-year lows, citing recent hopeful economic signs as it offered a less potent growth tonic than markets had hoped for.
Repeating its concern about risks of a further fall in inflation, the central bank’s Federal Open Market Committee (FOMC) voted 11-1 on Wednesday to lower its bellwether federal funds rate for overnight loans between banks to 1%.
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