URGENT: US Fed cuts rates amid data blackout from government shutdown

The US Federal Reserve on Wednesday lowered its benchmark rate by 25 basis points to a range of 3.75–4.00 per cent amid limited access to key economic data due to government shutdown.

Fed officials made the decision without the latest inflation and employment figures, which have been delayed due to the shutdown, complicating the central bank’s assessment of economic conditions.

Attribution: Amwal Al Ghad English