WASHINGTON, Dec. 10 (Xinhua) -- The U.S. Federal Reserve on Wednesday decided to lower the target range for the federal funds interest rate by 25 basis points to 3.5 to 3.75 percent, marking its third rate cut this year.
The latest move was widely anticipated, making it the third rate cut in a row since the Federal Open Market Committee monetary policy meeting in September.
"Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment rose in recent months," the Fed said in a statement.
The statement also noted moderate economic expansion, a higher unemployment rate, elevated inflation and more recent indicators consistent with those developments.
