The Globe and Mail reports in its Thursday, Sept. 18, edition that the U.S. Federal Reserve resumed interest-rate cuts on Wednesday, kicking off a new round of monetary policy easing. The Globe's Mark Rendell writes that the Fed has been on hold since December. The Fed said it was resuming rate cuts in response to weakening employment and signs that inflation is becoming less of a concern. The Fed on Wednesday issued a quarter-point rate cut, which took the target range for the federal funds rate down to 4 per cent to 4.25 per cent. It also published a new summary of economic projections, which showed that the majority of the Fed's top officials now expect two more rate cuts, in October and December, with more to follow next year. The Fed decision took place against the backdrop of unprecedented political pressure from the White House. Mr. Trump has spent months lambasting Fed chair Jerome Powell for not cutting interest rates. At a press conference after the rate announcement, Mr. Powell avoided questions about the Fed's independence. He stated that the decision to resume rate cuts was not politically motivated but was due to a summer slowdown in job creation, prompting a renewed focus on full employment.