Move falls short of Trump’s demands as debate over Fed independence intensifies and markets brace for global spillover effects.

The US central bank announced on Wednesday it would slash the benchmark interest rate by a quarter of a percentage point, though this year’s third cut has long been criticised by President Donald Trump as too late and too little. The cut decision made by the Federal Open Market Committee (FOMC), the monetary-policy organ affiliated to the Federal Reserve, was broadly in line with market expectations, but fell short of Trump’s demand of a larger cut. The benchmark interest rate after the…

From China - South China Morning Post via This RSS Feed.