Teller Report

US Fed cuts base rate

9/18/2019, 6:44:10 PM

The US Federal Reserve System (FRS) decided to lower the base rate to 1.75-2% from the level of 2-2.25%. Such a move is supposed to contribute to "maximum employment and price stability."


This was reported in a press release published on the regulator's website.

According to RIA Novosti, the Fed took such a step for the first time in ten years. Previously, the regulator maintained or raised the base rate in the United States.

US President Donald Trump has repeatedly criticized the Fed. In his opinion, the decisions of the regulator put the country at a disadvantage in comparison with competitors.

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