The Federal Reserve is set to cut interest rates by 25 basis points at its policy meeting this month, as the US central bank settles on a cautious approach to monetary easing despite political pressure for deeper stimulus.
Recent public appearances by Fed officials have revealed a broad desire to move towards looser monetary policy to shield the US economy from risks related to trade tensions, weakness in global growth and persistent low inflation.
Jay Powell, the Fed chairman, appears to be steering the bank to its first rate cut in almost a decade when it meets at the end of July, part of a global move towards monetary easing.
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