[Federal Reserve Cuts Interest Rates by 25 Basis Points, Signals Further Rate Cuts, Dollar Hits Seven-Week Low] The Federal Reserve overnight cut interest rates by 25 basis points as expected and signaled further rate cuts, appearing less cautious than anticipated in easing policy further. The dollar briefly hit a seven-week low. Michael Pfister of Commerzbank pointed out that Federal Reserve Chair Jerome Powell's remarks suggest that the risk of high inflation is less severe than the risk of a weakening labor market, potentially paving the way for further rate cuts after a pause in January next year.