US Federal Reserve cuts interest rates to 3-year low

The US Federal Reserve lowered its benchmark rate on Wednesday, sending borrowing costs to the lowest in almost three years.

At the end of their two day meeting, the Federal Open Markets Committee, chaired by Jerome Powell, lowered the federal funds rate to between 3.50 per cent and 3.75 per cent.

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Investors currently anticipate the Fed will deliver two more quarter-percentage-point rate reductions by the end of 2026, leaving its benchmark policy rate in the 3.00-3.25 per cent range.

Written by

Somshankar Bandyopadhyay

• 

Somshankar Bandyopadhyay is a News Editor with more than three decades of experience. Currently, he manages the news production of the business section, ensuring that the top economic and business news of the day reaches its readers.