"This ongoing gap between market and Fed expectations means that some risk of upward pressure on mortgage rates remains, but for now, consumers have already benefited from the drop in mortgage rates that has brought mortgage rates below 6.5% for the first time in nearly a year and is likely to continue at least through this week."

The Fed’s nearly-unanimous decision to reduce its key interest rate was seen by many as a quiet show of unity.

The appeals court ruling does not settle the key issue of whether President Trump can remove Lisa Cook for what he considers just cause.

The Federal Reserve cut interest rates for the first time in nine months on Wednesday, signaling concerns about a weakening labor market. The central bank’s Federal Open Market Committee voted to lower its target range for the federal-funds rate by a quarter percentage point to 4% to 4.

US Fed Meeting 2025 LIVE: The US central bank's Federal Open Market Committee (FOMC), led by Chairman Jerome Powell, is scheduled to announce a benchmark interest rate today, following its two-day meeting from September 16 to September 17.

Bitcoin was trading 1.6% lower Wednesday afternoon, as U.S. stocks fell, after Federal Reserve Chair Jerome Powell said the central bank would adopt a “meeting-to-meeting” stance in cutting interest rates toward neutral.

The latest Fed meeting is extraordinary, not just because central bankers are finally pivoting their strategy on interest rates, but also because of the latest developments implicating the Fed’s powerful board — all while the Trump administration continues to pile pressure on the politically independent central bank.

The Federal Reserve’s expected rate cut Wednesday may be straightforward, but Chair Jerome Powell must navigate disagreements over future policy amid a spectacle over who will succeed him in May. The most recent weirdness centers around two Fed governors: Lisa Cook: On Monday night,