Roundup: Market plunges as U.S. Fed signals slower pace of rate cuts

BEIJING, Dec. 19 (Xinhua) -- The U.S. Federal Reserve on Wednesday slashed interest rates by 25 basis points, the third consecutive rate cut in this easing cycle, while signaling a slower-than-expected pace of easing next year.

Fed officials estimated two interest rate cuts next year, fewer than four projected in September. They also marked up their projections for core inflation and economic growth next year, w