In a move that could influence other central banks around the world, the US Federal Reserve has cut interest rates by a larger-than-usual half a percentage point.
Federal Reserve chairman Jerome Powell says the US economy remains strong, but he's flagged the likehood of more rate cuts to protect the softening US jobs market amid fears about a recession by the end of the year.
Mr Powell reasserted the Fed's independence from politics ahead of the US presidential election and early comments from Donald Trump that he'd like to have a say on interest rate decisions.
LISTEN to my coverage from this morning
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