US Federal Reserve cuts interest rates to 3-year low
US Federal Reserve lowers interest rates at end of two-day meeting
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.
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.
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