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21:27 GMT
WASHINGTON, Oct 29 (KUNA) -- The US Federal Reserve on Wednesday announced cutting the target range for the federal funds rate by 1/4 percentage point to 3-3/4 to 4 percent.
In considering additional adjustments to the target range for the federal funds rate, the Federal Reserve Committee, in a press release, said it will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee decided to conclude the reduction of its aggregate securities holdings on December 1. The Committee, read the statement, is strongly committed to supporting maximum employment and returning inflation to its two-percent objective. (end)
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