By Nick Timiraos
WASHINGTON—The Federal Reserve cut its benchmark interest rate by a quarter-percentage point for the second time in as many months to cushion the economy against a global slowdown amplified by the U.S.-China trade war.
Fed Chairman Jerome Powell left the door open to additional cuts and repeatedly cited the costs of rising trade-policy uncertainty. But Central bank officials were split over Wednesday's decision and the outlook for further reductions. Read more (subscription needed).