U.S. Fed cuts key interest rate for 2nd time in a row as widely expected

The U.S. Federal Reserve on Wednesday cut its benchmark interest rate for the second time this year amid concerns over the labor market, marking a widely expected second reduction in a row.After a two-day policy meeting, the Fed said its target range for the federal funds rate, which commercial banks charge each other for overnight loans, will be lowered by 0.25 percentage point to 3.75-4.00 percent.The Federal Open Market Committee said in a statement that while available data suggest economic activity has been expanding at a moderate pace, "downside risks to employment rose in recent mont…READ FULL ARTICLE