Fed meeting resumes; rate cut seen

WASHINGTON, April 30 (Reuters) - The U.S. Federal Reserve on Wednesday resumed a two-day policy meeting that is expected to result in a decision to cut U.S. interest rates by a modest quarter percentage point and a suggestion the rate-cutting cycle it kicked off last fall is ending.

A Fed spokesman said the interest-rate setting Federal Open Market Committee resumed its meeting at 9:00 a.m. (1300 GMT). A statement outlining the central bank's rate decision is expected to be released at about 2:15 p.m. (1815 GMT).

The benchmark federal funds rate, the rate banks charge each other for loans, is currently 2.25 percent. (Reporting by Mark Felsenthal; Editing by Andrea Ricci)