It's been a decade since the The Federal Reserve cut its key interest rate but for the first time in 10 years the financial governing board sliced rates by a quarter point, trying to counter threats ranging from uncertainties caused by President Donald Trump's trade wars to chronically low inflation and a dim global outlook.
The Fed repeated a pledge to ``act as appropriate to sustain the expansion" ... wording that the financial markets have interpreted as a signal for possible rate cuts down the line.
The central bank reduced its benchmark rate, which affects many loans for households and businesses, by a quarter-point to a range of 2% to 2.25%.
