The Federal Reserve voted to lower interest rates by a quarter percentage point on Wednesday while signaling that it might pursue two additional rate cuts later this year.
The decision brings rates to a range of 4% to 4.25% and marks the first time this year the Fed has lowered its benchmark interest rate.
Weighing inflation, which Fed Chairman Jerome Powell said “remains slightly elevated,” against a cooling labor market, Powell described the cut as a “risk management” move to promote employment without fueling price increases…