Treasury Secretary Janet Yellen welcomed the most recent U.S. inflation figures, saying some of the most important price pressures over the past two years had begun to decline significantly.

Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and hinted they may be done loosening monetary policy, at least for one meeting.

The U.S. economy grew at a modest pace through much of July and August, with companies remaining upbeat despite disruption caused by international trade disputes, a Federal Reserve survey found.

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.

New tariffs and concerns over widening trade disputes cast a shadow over the Federal Reserve’s most recent survey of U.S. businesses even as all 12 regions reported continued robust job growth with few signs of overheating.

U.S. factory production bounced back in February, far exceeding analyst estimates and showing a key part of the economy is on track for steady growth this quarter, Federal Reserve data showed March 16.

Economic growth in recent weeks ranged from “slight to moderate” across the U.S. central bank’s regional districts as wages and inflation remained generally subdued, a Federal Reserve survey showed.

The U.S. economy continued to expand modestly from late November through the end of 2016 as a tightening labor market helped lift wages and prices more broadly, a Federal Reserve survey showed.