The Federal Reserve lowered borrowing costs on Wednesday 30 October for the third time since the financial crisis, as policymakers sought to insulate the longest expansion on record from growing risks. 

Following a two-day policy meeting, the central bank cut its benchmark interest rate to a target range of between 1.5% and 1.75%. The quarter percentage point cut had been widely anticipated by forecasters and investors. But the announcement, in which the policy-setting Federal Open Market Committee (FOMC) signalled it could hold off on further adjustments, was likely to draw ire from a White House that has demanded aggressive stimulus measures. 

Several policymakers dissented from the decision on Wednesday, with Kansas City Fed President Esther George and Boston Fed President Eric Rosengren voting to keep rates unchanged.

The FOMC has become divided in recent months over how to approach strains that have emerged against the backdrop of a still solid economy. Consumer activity and hiring have held up stronger than expected, even as the Trump administration's trade disputes and muted inflation weigh on the outlook.