'Fed Can Go Quicker, Slower Or Pause Rates If Appropriate': US Fed Chair Jerome Powell

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The US Federal Reserve on Wednesday reduced its key interest rate for the first time since the pandemic, in line with expectations. The Federal Open Market Committee lowered the rate for the first time in more than four years by 50 basis points to 4.75-5.00% in September, according to a statement. The central bank had kept its key interest rate unchanged for eight consecutive meetings until July, after raising it by 25 basis points last year, bringing the benchmark rate to a 22-year high.

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