US Federal Reserve cuts rate by 25 basis points; Jerome Powell-led FOMC says uncertainty about economic outlook remains elevated
Jerome Powell (AP file photo) US Federal Reserve Chairman Jerome Powell-led Federal Open Market Committee (FOMC) on Wednesday cut the key benchmark rate by 25 basis points, bringing it down to the 3.75-4.00 per cent range. According to the FOMC statement, “uncertainty about the economic outlook remains elevated.”“Available indicators suggest that economic activity has been…