The Federal Reserve announced on the 17th that it will lower its target range for the federal funds rate by 25 basis points to between 4.00% and 4.25%. This is the first time the Federal Reserve has cut interest rates in 2025, and the second time it has done so after three cuts in 2024. On September 17th, the Federal Reserve announced that it would lower its target range for the federal funds rate by 25 basis points to between 4.00% and 4.25%. This is the first time the Federal Reserve has cut interest rates in 2025, and the second time it has done so after three cuts in 2024. On September 17th, the Federal Reserve announced that it would lower its target range for the federal funds rate by 25 basis points to between 4.00% and 4.25%. This is the first time the Federal Reserve has cut interest rates in 2025, and the second time it has done so after three cuts in 2024. Photo by Hu Yousong, Xinhua News Agency reporter