The Fed cut the benchmark rate by 25 basis points, between 1.75 and 2%

The open market committee of the US monetary authority said its decision to cut the federal funds rate at a range of 1.75% to 2%, by seven votes against three, responded to global risks, plus weak investment and exports.

While the US economy continues to grow at a "moderate" rate and the labor market "remains strong," the Fed said in its statement that I was cutting rates "in light of the implications of global developments for the economic landscape, as well as the non-existent inflationary pressures".

The US monetary authority said its decision to cut the federal funds rate to a range of 1.75% to 2%, by seven votes to three, responded to global risks, plus weak investment and exports.

With continued growth and strong hiring as "the most likely results," the Fed, however, mentioned "uncertainties" about the outlook and pledged to "act as appropriate" to maintain the expansion.

Without consensus

New projections showed that officials expect rates to remain within the new range during 2020. However, in a sign of dissent, seven out of 17 officials forecast a further cut in 2019.

Others five, on the other hand, believe that a rate hike is needed before the end of the year.

The president of the Fed, Jerome Powell, will offer a press conference at 1830 GMT to discuss the decision.

The rate cut does not meet the most aggressive reduction that President Donald Trump had demanded from bank officials, those who have tried "fools" and those who have accused of endangering the economic recovery.

In fact, Trump's protests didn't wait long. Only 25 minutes after the decision was known, the US president turned to his Twitter account to attack Powell. "Jay Powell and the Federal Reserve failed again. Without 'guts, without logic, without vision! A lousy communicator!" He tweeted.