A television screen on the floor of the New York Stock Exchange shows news about the Fed's decision to lower interest rates on Wednesday. Photo: EPA-EFE
US Federal Reserve cuts interest rates by quarter point and signals potential for more
- Central bankers vote to lower target range for benchmark rate to 2 per cent to 2.25 per cent
- Reduction is first since 2008 financial crisis, and may be followed by another cut this year to insulate US economic expansion from slowing global growth
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US Federal Reserve
A television screen on the floor of the New York Stock Exchange shows news about the Fed's decision to lower interest rates on Wednesday. Photo: EPA-EFE