The U.S. Federal Reserve on Wednesday delivered a widely expected interest rate cut aimed at sustaining a record-long economic expansion, but gave few hints of whether or when it could reduce borrowing costs further. The U.S. economic outlook is “favorable,” with labor markets strong and inflation likely to return to the Fed’s 2% inflation goal, Fed Chair Jerome Powell said in a news conference after the decision was announced. But Fed policymakers decided to cut rates, he said, “to provide insurance against ongoing risks” including weak global growth and resurgent trade tensions. “If the economy does turn down, then ... (full story)