The Federal Reserve has cut interest rates for the first time this year, reducing borrowing costs by a quarter point and signalling further reductions in the months to come as the labour market weakens.
The Federal Open Market Committee lowered the benchmark federal funds target range to 4 per cent to 4.25 per cent, matching Wall Street expectations.
Wednesday’s rate cut was the first since December and came as the central bank signalled that it viewed a deteriorating labour market as a more immediate risk than a rise in inflation triggered by Donald Trump’s tariffs.
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