Mumbai, Oct. 30 -- After cutting interest rates for the first time this year in September, the Federal Reserve on Wednesday announced its widely expected decision to lower interest rates by another quarter point.
The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 3.75 percent to 4.0 percent in support of its dual goals of maximum employment and inflation at the rate of 2 percent over the longer run.
The central bank once again cited a shift in the balance of risks, noting the downside risks to employment have risen in recent months.
While another quarter point rate cut was widely expected, there was some disagreement among Fed officials.
Along with lowering rates, the Fed also announced it...