Jerome Powell has concluded his news conference following the announcement that the Federal Reserve will cut the country's key lending rate by a quarter point. This is the third reduction this year brings the key interest rate to 3.50% to 3.75%. Powell affirms the Fed's commitment to keeping inflation low and near the Fed's target.

President Trump wants substantially lower borrowing costs, but officials at the central bank appear ready to resist delivering further cuts if the economic backdrop does not warrant it.