▲ U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference at the Federal Reserve in Washington on Nov. 7, 2024, in this photo released by the Associated Press. (Yonhap)

FOMC-rate decision

U.S. Fed cuts key lending rate by quarter-percentage point

By Song Sang-ho

WASHINGTON, Dec. 18 (Yonhap) -- The U.S. Federal Reserve on Wednesday lowered its benchmark interest rate by a quarter-percentage point.

After the two-day Federal Open Market Committee (FOMC) meeting, the central bank announced the decision to reduce the rate to the 4.25 to 4.50 percent range. It followed a quarter-percentage-point cut last month and a 50-basis-point reduction in September.

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