Milan, 10 Dec. (LaPresse) – The US Federal Reserve's Federal Open Market Committee has decided to cut interest rates by 25 basis points, bringing them into the range of 3.5% to 3.75%. In assessing the extent and timing of further adjustments, the FOMC will carefully evaluate incoming data, the evolution of the outlook and the balance of risks, it is emphasised. The Federal Reserve's decision to cut interest rates by 25 basis points was taken with nine votes in favour and three against. In addition to Chairman Jerome Powell, Vice Chairman John C. Williams, Michael S. Barr, Michelle W. Bowman, Susan M. Collins, Lisa D. Cook, Philip N. Jefferson, Alberto G. Musalem, and Christopher J. Waller voted in favour. Voting against were Stephen I. Miran, who would have preferred a half-percentage point cut, and Austan D. Goolsbee and Jeffrey R. Schmid, who would have preferred not to proceed with any cut.
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