Fed Cuts Rates 25 Basis Points
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President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to.
The central bank delivered a policy long-sought by President Donald Trump, though the size of the rate cut all but certainly fell short of Trump's desired outcome. The Federal Open Market Committee (FOMC), a policymaking body at the Fed, projected two additional quarter-point rate cuts over the remainder of the year.
Federal Reserve Chair Jerome Powell said the central bank will cut interest rates by a quarter point, following rising inflation and slow job growth.
Mortgage rates just hit their lowest point since 2022, which means there are a few moves buyers should make now.
Fed's rate cut boosts growth prospects for tech, with PATH, QLYS, CALX, TASK and IDCC as five mid-cap AI infrastructure stocks highlighted as top picks.
The average rate on 30-year fixed home loans registered at 6.35% for the week ending Sept. 11, down from 6.5% last week.
In recent weeks, President Donald Trump has moved to fire one member of the Fed's board of governors and secure Senate confirmation for another. The race to reshape the Fed comes after Trump railed for months against the central bank and its Chair Jerome Powell for declining to heed his call for lower interest rates.