by Ben Whedon
Chairman Jerome Powell had been hesitant to make such a move, despite public urging from Trump.
The Federal Reserve on Wednesday announced a 0.25% interest rate cut, marking the first such move since President Donald Trump returned to the White House.
Chairman Jerome Powell had been hesitant to make such a move, despite public urging from Trump. The move lowered the Fed rate from 4.25% to 4.00%, USA Today reported.
The Fed has not cut rates since late 2024. While the move is a win for Trump, he is unlikely to be satisfied with Powell, whom he has dubbed "too late" Powell due to his hesitance to lower rates.
Ben Whedon is the Chief Political Correspondent at Just the News. Follow him on X.
Source: https://justthenews.com/nation/economy/federal-reserve-announces-first-rate-cut-trumps-second-term
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