Investors should “take some relief” as the US Federal Reserve has cut interest rates for the first time since 2008 by 0.25 percentage points, Nancy Curtin, chief investment officer of Close Brothers Asset Management, argued.

This takes the Fed’s target range to 2.0-2.5 percent.

Ms Curtin explained “the comfort blanket of looser monetary policy” is protecting investors from the global slowdown and trade tensions.

This is a marked change from the Fed’s recent focus on tightening, with nine rate hikes having occurred in the past four years.

Despite the US economy appearing relatively healthy...