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US Fed rate cut: Why it matters to Kenya, the world

Federal Reserve Chairman Jerome Powell arrives for a news conference following a two-day Federal Open Market Committee meeting in Washington DC on June 19, 2019. [File, Agencies]

The US Federal Reserve Bank recently cut the interest rate, a few weeks after the Central Bank of Kenya (CBK) did the same.

The old dictum that the government has no business in business is not supported by reality.

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