The US Federal Reserve lowered interest rates by 25 basis points

Washington, Ta. September 19, 2019, Thursday

The Federal Open Market Committee of the United States Federal Reserve has cut interest rates by 5 percent (2 basis points) for the second time in a row on Wednesday amid global uncertainty. America's interest rate is now in the range of 5.5 to two percent.

"As the US consumer continues to make big purchases as a result of revenue growth, trade negotiations between the United States and China remain unresolved, and growth in the manufacturing sector has slowed," Federal Chairman Jerome Powell told reporters after the meeting.

This is the second time the Federal Reserve has cut interest rates after the recession of 3. The decision to cut interest rates has come in the wake of slowing global growth and increasing trade tensions over the past few months, Powell said.

Seven members of the committee favored a 5 per cent reduction in interest rates while one member spoke of half per cent while two members spoke unchanged. A strong job market, low unemployment rates, weak inflation and high housing costs can keep the federal going forward.

If the economy is sluggish, the possibility of further interest rate cuts would be appropriate, but we do not see it. We don't even expect it, "Powell said.

The committee expects the economic growth rate of the United States to be modestly stronger than expected. The unemployment rate is also expected to remain stable at 5.5 percent. At its June meeting, the federal economic growth rate was estimated at 8.5 percent.