Washington: The US Federal Reserve cut interest rates on Wednesday by 25 basis points, bringing the range to 3.50-3.75%. This marks the third rate cut this year, reflecting ongoing concerns about the economic environment.

According to Qatar News Agency, the Federal Reserve stated that while the economy is growing at a moderate pace, there are signs of slowing in job creation and a slight increase in the unemployment rate. These indicators suggest caution in the broader economic outlook.

The Federal Reserve also pointed out that inflation has been on the rise since the start of the year and remains fairly high. Despite this, the central bank acknowledged that there is significant uncertainty surrounding the economic outlook, which influenced their decision to reduce the interest rates.

This rate cut is part of the Federal Reserve’s strategy to support economic growth and address potential risks posed by these economic indicators. The decision highlights the central bank’s ongoing adjustments in response to economic conditions.