Key Takeaways From Fed Decision to Cut Rate by Quarter Point

(Bloomberg) -- Here are key takeaways from the Federal Reserve's interest-rate decision on Thursday:

Federal Open Market Committee votes unanimously to lower benchmark rate by 25 basis points to target range of 4.5%-4.75%
Fed tweaks language to note “labor market conditions have generally eased,” and repeats “the unemployment rate has moved up but remains low”
Statement removes reference to “further” inflation progress, noting inflation “has made progress toward the committee's 2% objective but remains somewhat elevated”
Statement removes language saying committee has “gained greater confidence” that inflation is moving sustainably toward 2% target
Statement maintains language saying risks to achieving employment and inflation goals “are roughly in balance”

For Bloomberg's TOPLive blog on the Fed decision and press conference, click here

--With assistance from Craig Torres.