Jerome Powell trims interest rates by 25 basis points to 3.75-4%.(Image: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The US Federal Reserve has cut interest rates by 25 basis points on Wednesday while lowering the target range to 3.75-4%. This marks the second time the Fed has cut rates this year, having already issued a 25 bps cut in September.

More than the rate cut, what stood out was US Fed Chair Jerome Powell's statement on how a December rate is not a foregone conclusion, which may have serious implications for the Indian market.

Wall Street certainly did not approve of the comment from Powell, with the Nasdaq falling almost 1% immediately after the announcement. Dow Jones also had a 0.75% negative reaction to the announcement and ended the day in

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