Federal Reserve Cuts US Interest Rates By 25-Basis Points

SECAUCUS, NJ (DTN) – The Federal Reserve announced on Wednesday (9/17) a 25-basis point cut in US interest rates —the first since December of last year — bringing benchmark rates set by the central bank into a 4.0%-4.25% range.

“In support of its goals and in light of the shift in the balance of risks, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4‑1/4 percent,” the central bank’s Federal Open Market Committee said in a statement.