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Fed Lowers Interest Rates as Expected, Leaves Door Open to More Cuts

Reuters

   The Federal Reserve cut interest rates on Wednesday for the first time
   since 2008, citing concerns about the global economy and muted U.S.
   inflation, and signaled a readiness to lower borrowing costs further if
   needed.

   Financial markets had widely expected the quarter-percentage-point rate
   cut, which lowered the U.S. central bank's benchmark overnight lending
   rate to a target range of 2% to 2.25%.

   In a statement at the end of its latest two-day policy meeting, the Fed
   said it had decided to cut rates "in light of the implications of
   global developments for the economic outlook as well as muted inflation
   pressures."

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