Business Economy

Fed sees case for rate cuts this year

The U.S. Federal Reserve on Wednesday signalled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation.

Even as the Fed left its benchmark interest rate unchanged for now, the shift in sentiment since its last policy meeting was marked. The bulk of Fed policymakers slashed their rate outlook for the rest of the year by roughly half a percentage point, and Chairman Jerome Powell said others agree the case for lower rates is building.

Source: thehindu.com

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