Here are key takeaways from the Federal Reserve’s interest-rate decision on Thursday:
- Federal Open Market Committee votes unanimously to lower
benchmark rate by 25 basis points to target range of 4.5%-4.75% - Fed tweaks language to note “labor market conditions have generally eased,” and repeats “the unemployment rate has moved up but remains low”
- Statement removes reference to “further” inflation progress, noting inflation “has made progress toward the committee’s 2% objective but remains somewhat elevated”
- Statement removes language saying committee has “gained greater confidence” that inflation is moving sustainably toward 2% target
- Statement maintains language saying risks to achieving employment and ...