FED officials said there are no signs of a recession in the near future and the interest rate cuts are to protect the economy against rising instability. The FED has cut its prime rate 4 times last year.
The US stock market on Wednesday moved in opposite directions. The Dow Jones industrial index rose 9 points but the S&P 500 dropped 2 points, while the Nasdaq technology index fell 7 points.
With the US and China likely to reach a trade agreement, the FED will maintain this interest rate until there are signs indicating that the US economy needs a further "push".