Fed Cuts Rates 25 Basis Points
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Trump takes bid to fire Fed's Cook
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Johns Hopkins political scientist Nicolas Jabko explains how prevailing political forces threaten to disrupt the nation's money supply and the global economy
"The Senate Passes the Federal Reserve Act." Federal Reserve History. "Federal Reserve Act Signed into Law." Federal Reserve Board. "The Fed Explained: What the Central Bank Does." Federal Reserve Board. "The Twelve Federal Reserve Districts."
Federal Reserve Chair Jerome Powell’s comments at Jackson Hole Friday hinting at the possibility of an upcoming interest rate cut should have been music to President Donald Trump’s ears.
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.
The US Federal Reserve lowered its benchmark interest rate by 25 basis points on Wednesday – marking its first rate cut since December 2024. Ahead of the announcement, the CME FedWatch Tool demonstrated 96% probability of quarter-point reduction.