U.S. Fed cuts interest rates for third time this year as economy slows

U.S. Federal Reserve Chairman Jerome Powell speaks during a press conference in Washington D.C., the United States, on Oct. 30, 2019. U.S. Federal Reserve on Wednesday lowered interest rates by 25 basis points amid a further slowdown in U.S. economic growth, the central bank's third rate cut this year. (Photo by Ting Shen/Xinhua)