Federal Reserve Reduces US Interest Rate By 25 Basis Points To 1.75%-2% Range
Mohammad Ali (@ChaudhryMAli88) Published September 18, 2019 | 11:10 PM
WASHINGTON (UrduPoint News / Sputnik - 18th September, 2019) The United States' benchmark interest rate will decrease by 25 basis points to a range of 1.75 percent to 2 percent, the US Federal Reserve's policy-setting Federal Open Market Committee said in a statement on Wednesday.
"Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability," the statement said. "In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 1-3/4 to 2 percent."
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