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		</div><p>The Federal Reserve is cutting rates for a second time this year while saying it is prepared to continue doing what it deems necessary to sustain US economic expansion.</p>
<p>The Fed’s move will reduce its benchmark rate by an additional quarter-point to a range of 1.75% to 2%.</p>
<p>The Fed’s key rate influences many consumer and business loans.</p>
<p>The economy appears durable in its 11th year of growth, with a still-solid job market and steady consumer spending.</p>
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<p>But the Fed is trying to combat threats including uncertainties caused by President Donald Trump’s trade war with China, slower global growth and a slump in American manufacturing.</p>
<p>The Fed notes in its statement that “business fixed investment and exports have weakened”.</p>
<p>The Fed’s move is likely draw criticism from President Trump, who has attacked the institution and insisted that it slash rates more aggressively.</p>
<p>The Fed’s action was approved on a 7-3 vote, with two officials arguing to keep rates unchanged and one arguing for a bigger half-point cut.</p>
<p>It was the largest number of Fed dissents in three years.</p>
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