Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
WASHINGTON, Sept. 17 (Xinhua) — The U.S. Federal Reserve on Wednesday decided to cut its target range for the federal funds rate by 25 basis points, the first cut since December 2024.
Recent data indicate a slowdown in economic activity in the first half of the year. Job growth slowed, and the unemployment rate rose but remains low. Inflation increased and remains slightly elevated, according to a statement from the Federal Open Market Committee (FOMC), the Fed's main monetary policymaking body, following its meeting.
“In support of its objectives and in light of the changing balance of risks, the Committee decided to lower the target range for the federal funds rate by 25 basis points, to 4% to 4.25% per annum,” the statement said.
It is noted that when considering additional adjustments to the target range for the federal funds rate, the FOMC will carefully evaluate incoming data, changing forecasts, and the balance of risks.
The FOMC also reaffirmed its commitment to returning inflation to 2 percent while maintaining maximum employment. –0–
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