x     Amid a softer labor market, the United States' Federal Reserve (Fed) voted Wednesday to cut its benchmark interest rate by 0.25 basis points, moving the target range to 3.75%–4%. This marks the lowest level in three years and continues the easing cycle dating back to last month. The Federal Open Market Committee (FOMC) justified the quarter-point reduction by noting that, since the previous cut, “available indicators suggest that economic activity has expanded at a moderate pace.” Fed