US Fed cuts interest rate for the second time in a row: Top 4 highlights

Moderate economic activity, weak business fixed investment and exports, and global uncertainties promoted the Fed to lower the key interest rates, a second since the recession of 2008

The US Federal Open Market Committee (FOMC) of the Federal Reserve on Wednesday delivered second rate cut in a row, slashing interest rates by 25 basis points on the back of global uncertainties. The rate now stands in the range of 1.75-2 per cent.

While US consumers continued to make big purchases owing to an uptick in wages, unresolved trade negotiations between the United States and China have dampened business investment and slowed the manufacturing sector, Fed chairman Jerome Powell said during the press conference.

The US equity markets ended marginally higher during the overnight trade on Wednesday as the