As widely anticipated, the U.S. Federal Reserve cut its benchmark interest rate range by 25 basis points to 3.75% to 4.0%. Also as generally expected, the Fed moved to conclude the reduction of the securities held on its balance sheet on December 1, i.e., the so-called "quantitative tightening" process. "Job gains have slowed this year, and the unemployment rate has edged up but remained low through August," read the bank's policy statement. "Inflation has moved up since earlier in the year and remains so ...