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Federal Reserve policymakers lowered their main interest rate for a second time this year while splitting over the need for further easing, caught between uncertainty over trade and global growth and a domestic economy that’s holding up well.

WASHINGTON — For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump’s trade war with China.

Federal Reserve Chairman Jerome Powell said the U.S. economy is in a favorable place but faces “significant risks” as growth abroad slows amid trade uncertainty.

A new survey by the Federal Reserve Bank of New York found a growing conviction among businesses that President Donald Trump’s tariffs were hitting their bottom line.

The Federal Reserve reduced interest rates for the first time since the financial crisis in a move that Chairman Jerome Powell said was designed to “ensure against downside risks” rather than signaling the start of a lengthy cycle of monetary policy easing.

U.S. economic growth slowed in the second quarter by less than forecast as consumer spending topped estimates, though weaker business investment and exports underscored the risks spurring the Federal Reserve toward an interest-rate cut July 31.

WASHINGTON — The Federal Reserve has left its key policy rate unchanged but signaled that it plans to keep responding to the strong U.S. economy with more interest rate hikes. The next rate increase is expected in December.

WASHINGTON — U.S. industrial production rose modestly last month, held down by drops in mining and utilities.

Federal Reserve officials left the benchmark interest rate unchanged while reiterating their plan to gradually lift borrowing costs to keep the economy expanding at a healthy pace.

Federal Reserve officials left interest rates unchanged, acknowledging inflation is close to target without indicating any intention to veer from their gradual path of interest-rate increases.