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Fed cuts key rate for third time but signals it is now on hold

Jacob Greber
Jacob GreberSenior correspondent
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Washington | The US Federal Reserve on Thursday (AEDT) cut official interest rates for the third time this year, but indicated it has finished for now what chairman Jerome Powell previously called a "mid-cycle adjustment".

Board members lowered the target range for the federal funds rate by 25 basis points to 1.5 to 1.75 per cent.

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Jacob Greber writes about politics, economics and business from Canberra. He has been a Washington correspondent and economics correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com

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    Original URL: https://www.afr.com/link/follow-20180101-p535yv