Washington | A divided US Federal Reserve cut interest rates by a quarter of a percentage point on and announced it will restart limited purchases of Treasury securities after money markets showed signs that liquidity was becoming scarce, a condition the US central bank has pledged to avoid.
The rate cut, which included a nod to the data limits the central bank faces during the current federal government shutdown, drew dissents from two policymakers, with governor Stephen Miran again calling for a deeper reduction in borrowing costs and Kansas City Fed president Jeffrey Schmid favouring no cut at all given ongoing inflation.
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Reuters
