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The US Federal Reserve lowered its base interest rate by 25 basis points, or 2 to 2.25%. The reasons for this decision are concern about the global economy and low inflation in the United States, world media reported.
The Fed said economic activity was growing at a steady pace and the labor market remained stable. Business investment remains weak and uncertainty about growth remains.
According to the Fed, a reduction in interest rates will help bring inflation down to 2%, leaving the door open for future cuts.
The decision to cut interest rates is the first of its kind since December 16, 2008, when the US economy was hit by a financial crisis that threatened to crush the global economy. This follows pressure from US President Donald Trump, who wants to cut interest rates by 50 basis points.
Following the announcement of this decision, the dollar has appreciated 1.106 against the euro.
tags: USA economy shrinking Fed interest
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