New Delhi, Sept. 18 -- The US Federal Reserve decided to cut the benchmark interest rate by 25 basis points on Wednesday, September 17, amid signs of growing stress in the labour market.

The FOMC voted by an 11:1 majority to cut the federal funds rate by 25 bps and bring it down to a range of 4 per cent to 4.25 per cent.

The Fed's policy decision was largely in line with expectations. The central bank did give subtle hints of further easing in the coming months, but it emphasised that the policy decisions will remain anchored to incoming data and evolving situations.

"The median participant projects that the appropriate level of the federal funds rate will be 3.6 per cent at the end of this year, 3.4 per cent at the end of 2026, and 3....