The Federal Reserve has reduced its interest rates for the third time in 2019 to bolster US economic growth. The Federal Open Market Committee has slashed its benchmark funds rate to a range of 1.5 per cent to 1.75 per cent, cutting the rate by 25 basis points.
Key takeaways from Fed’s decision:
- Monetary policy easing might come to a pause after the current rate cut.
- Obstacles to a rate hike in future is high.
- US President Donald Trump eager to witness more rate cuts.