US Federal Reserve cuts interest rates for the first time since December | Business and Economy News

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The central bank’s cut comes amid a cooling labour market, which has stalled economic growth.

The United States Federal Reserve will cut interest rates by a quarter of a percentage point, from 4.25 percent to 4.00 percent, as a slowing labour market stalls economic growth.

The central bank announced its decision on Wednesday afternoon.

Economists had widely expected a 25 basis point cut, with CME FedWatch — a group that tracks…