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Good morning from The Financial Times.
Today is Thursday, September 18th, and this is your FT News Briefing.
The Federal Reserve is changing course, and China doesn't want Nvidia chips anymore.
Plus, one of the world's biggest tech investors is Switzerland.
I'm Sonia Hudson, and here's the news you need to start your day.
The Federal Reserve lowered interest rates by a quarter point yesterday.
This is the first cut all year.
Fed Chair Jay Powell said recent economic data showed a cooling labor market,
and that means it's time to shift the central bank's approach.
Our policy had been really skewed toward inflation for a long time, really.
Now we see that there's downside risk clearly in the labor market,
and so we're moving in the direction of more neutral policy.