The US Federal Reserve cut its key lending rate by 0.25 percentage points to a range of 4% to 4.25%, marking the first reduction since last December. This move signals concerns about a stalling job market, despite US President Donald Trump's pressure for even larger cuts.

• The rate cut is expected to kick off a series of further reductions, aiming to lower borrowing costs across the US.
• Federal Reserve chairman Jerome Powell acknowledged "downside risks" to the job market, a shift from July's "solid" assessment.
• Stephen Miran, on temporary leave from Trump's Committee of Economic Advisers, voted for a larger 0.5 percentage point cut, highlighting internal disagreement.
• US inflation rose 2.9% over the 12 months to August, remaining above the Fed's 2% target.
• The Fed's decision counters Trump's consistent criticism and demands for rates as low as 1%.