Milan, 17 September (LaPresse) – The Federal Open Market Committee of the Federal Reserve voted 11 in favour and Stephen Miran against to reduce the target range for the Fed Funds rate by 25 basis points to 4%-4.25%. Miran wanted a 50 basis point cut. The Fed reported this in a statement. "In assessing further adjustments to the target range for the federal funds rate, the Committee will carefully evaluate incoming data, the evolution of the outlook, and the balance of risks. The Committee will continue to reduce its holdings of Treasury securities, agency debt securities, and agency mortgage-backed securities. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2% objective," the statement reads.