US Fed makes quarter-point interest rate cut
The US Federal Reserve has decided to cut interest rates by 0.25% in a meeting this week after the US created only 22,000 jobs in August, well below trend.
The US Federal Reserve, through a 11-1 vote of the Federal Open Market Committee, has decided to cut rates in a meeting this week by 25 basis with the overnight funds rate set at a range between 4% and 4.25%.
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