US Fed eases rates with quarter-point cut

WASHINGTON: The US Federal Reserve shrugged off political uncertainty in Washington and moved ahead with a quarter-point rate cut on Thursday, easing monetary policy further as inflation continues to cool.

Policymakers voted unanimously to lower the central bank´s key lending rate to between 4.50 percent and 4.75 percent, the Fed announced in a statement.

“Labour market conditions have generally eased” since earlier in the year, the Fed said, noting ongoing progress to bring inflation down toward the bank´s long-term target of two percent.