As markets had almost universally expected, the Federal Reserve announced its first interest rate cut of the year on Wednesday, trimming its key rate by a quarter-point to a range.
As markets had almost universally expected, the Federal Reserve announced its first interest rate cut of the year on Wednesday, trimming its key rate by a quarter-point to a range of 4% to 4.25%. The central bank signaled that there would be two more rate cuts this year. The Fed had held the rate steady at other meetings this year, despite a softening job market and relentless pressure from President Trump, out of fears that Trump’s tariffs will push inflation higher, the AP reports.
