In a move championed by President Donald Trump, the Federal Reserve cut its key interest rate by 0.25% to a range of 3.5% to 3.75% on Wednesday, the third cut this year, lowering borrowing costs and giving some lift to a flagging job market .

Only three members of the Federal Reserve Board of Governors voted against the cut: Stephen Miran, who wanted to lower the target range for the federal funds rate by 0.5%, and Austan Goolsbee and Jeffrey Schmid, who both figured it was presently best not to have any cuts at all.

'Available indicators suggest that economic activity has been expanding at a moderate pace.'

Joseph Brusuelas, chief economist for the financial services firm RSM US, noted in a Tuesday analysis that the Fed was faced with the "difficult choice of either aggressively fi

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