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Fed cuts benchmark rate

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The Federal Reserve on Thursday made its second consecutive rate cut.

With the quarter-percentage point cut, the federal funds rate now has a range between 4.5% and 4.75%.

“The committee judges that the risks to achieving its employment and inflation goals are roughly in balance,” the Federal Open Market Committee said in a statement. “The economic outlook is uncertain, and the committee is attentive to the risks to both sides of its dual mandate.”

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