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.
Federal Reserve Chair Jerome Powell said the central bank will cut interest rates by a quarter point, following rising inflation and slow job growth.
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 Federal Reserve is widely expected to announce its first interest rate cut since December 2024 after its two-day meeting wraps Sept. 17.