US Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington on Wednesday. Photo: EPA-EFE

US Federal Reserve cuts rates for third time this year amid US-China trade war, but signals likely pause

  • US central bank lowers overnight lending rate by quarter of percentage point to target range of between 1.50 per cent and 1.75 per cent
  • Move seeks to keep US economy from slipping into recession as it weathers trade dispute
Topic |   US Federal Reserve

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US Federal Reserve Board Chairman Jerome Powell holds a news conference after a Federal Open Market Committee meeting in Washington on Wednesday. Photo: EPA-EFE
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