After lowering interest rates for the first time in over a decade in late July, the Federal Reserve announced another interest rate cut following a two-day monetary policy meeting that ended on Wednesday.
The Fed revealed its widely expected decision to cut rates by another 25 basis points, lowering the target range for the federal funds rate to 1-3/4 to 2 percent.
The latest rate cut was once again attributed to the implications of global developments for the economic outlook as well as muted inflation pressures.
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Business News
August 21, 2026 14:42 ET The minutes of the latest policy meeting of the Federal Reserve, housing market data and manufacturing sector survey results were the main news for the U.S. economy this week. In Europe, inflation data from the U.K. was the highlight, while consumer price data from Japan drew attention in Asia.