The Fed said: "Today's action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time."
The decision lowers the cost of borrowing to 4.75% and is the Fed's first move of more than quarter point since November 2
- A route to economic growth – The Belt and Road Initiative 2018 survey
- After the Congress – Interpreting China’s new development concept
- Asian Infrastructure Investment Bank – Raising expectations
- ECB will ‘accelerate efforts’ to tackle staff concerns after second survey
- Do not discount central bank digital currency yet – Lagarde