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The U.S. Federal Reserve cut its key policy rate by 25 basis points on Wednesday, marking the third reduction this year. Fed Chair Jerome Powell said the Federal Open Market Committee, FOMC, lowered the target range by 0.25 percentage point to support its employment and inflation goals after weighing current risks in the economy.
Details of the decision process reveal a 9-3 vote split between members of the decision-making committee, featuring hawkish and dovish dissents. Meanwhile, Powell reiterated the committee’s commitment to achieving its dual mandate goals of maximum employment an…
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