US Federal Reserve cuts rate by 25 bps: Jerome Powell-led FOMC says economic outlook uncertainty elevated; December cut ‘not a foregone conclusion’
US Federal Reserve Chairman Jerome Powell-led Federal Open Market Committee (FOMC) on Wednesday cut the key benchmark rate by 25 basis points, bringing it down to the 3.75-4.00 per cent range. According to the FOMC statement, “uncertainty about the economic outlook remains elevated.”“Available indicators suggest that economic activity has been expanding at a moderate pace. … Read more