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The Federal Open Market Committee lowered the target Federal Funds rate by 25 basis points, to a target of 4.5%-4.75%, citing the progress in inflation and slowing job gains on Thursday.
"Recent indicators suggest that economic activity has continued to expand at a solid pace. Since earlier in the year, labor market conditions have generally eased, and the unemployment rate has moved up but remains low," the FOMC statement said. "Inflation has made progress toward ...